Kenny Fihla, a prominent figure in South African banking, has announced his resignation from Standard Bank to take on a new role as the chief executive officer (CEO) of rival financial institution Absa Group.
His appointment to the position is effective from 17 June 2025, subject to regulatory approval.
Fihla held various senior roles within Standard Bank, including CEO of Corporate and Investment Banking (CIB), deputy CEO of Standard Bank Group, and CEO of Standard Bank South Africa. As deputy CEO, Fihla was responsible for overseeing Standard Bank’s subsidiaries outside of South Africa, further strengthening his Pan-African banking expertise.
“Kenny is a recognised leader with substantial Pan-African banking experience and a proven track record. He has almost 20 years of experience in leadership roles in banking,” said Absa in its statement.
Fihla holds an MSc in Financial Economics from the University of London and an MBA from the University of the Witwatersrand.
In a related development, Absa confirmed that Charles Russon will continue as the Interim CEO of both Absa Group and Absa Bank until 16 June 2025. Russon will work closely with Fihla during the leadership transition to ensure a smooth handover.
Following Fihla’s appointment, Russon will take on a senior role within the Group Executive Committee.
Meanwhile, Standard Bank announced that Fihla’s resignation comes after 18 years of service to the group, with his final day in office set for Friday, 13 June 2025. He will step down as both an executive director of Standard Bank South Africa and a member of its associated board committees.
Additionally, Fihla will resign as non-executive director and chairman of ICBC Standard Bank Plc and Stanbic Africa Holdings Limited, respectively.
CEO of Standard Bank Group Sim Tshabalala said in a statement early on Monday that Fihla will proceed with garden leave today. “Whilst this is a heavy blow for us, the Group is blessed with a surfeit of talent and deep succession pools.”
Standard Bank also confirmed that succession planning for Fihla’s role would be announced in due course. Fihla’s departure will mark the end of an era, but the bank’s leadership transition plans will ensure continued stability.
