Arrie Rautenbach knows the bank inside out, with relationships built over decades. Absa Moneyweb banking companynews
In the end, the Absa Group board opted for the ‘safe’ choice: Arrie Rautenbach, who has been at the bank for practically his entire career. The ‘default’ choice would’ve surely been Jason Quinn, who had filled the role on an interim basis for the past 343 days.
In 2018 Rautenbach was appointed to lead retail and business banking South Africa by Ramos, and by the end of that year he had presented a credible, detailed strategy for the next three to five years. Read: Absa: Here’s what’s wrong with its retail bank Here, he was arguably not the obvious choice. Many of the targets looked stupendous in December 2018. That the most recent metrics match or are close to the 2021 targets following the two-year disruption of Covid-19 is an astonishing achievement.
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