Kenny Fihla has been appointed as the new CEO of Absa, leaving his roles as Deputy CEO of Standard Bank Group and CEO of Standard Bank South Africa.
His last day at Standard Bank will be Friday, 13 June 2025, before officially taking over as Absa CEO on 16 June 2025.
A Seasoned Banking Leader Takes the Helm
“Fihla is a recognised leader with substantial Pan-African banking experience and a proven track record,” said Absa in its announcement.
Fihla, who holds an MSc in Financial Economics (University of London) and an MBA (University of the Witwatersrand), brings 18 years of banking expertise to his new role.
His appointment follows the early retirement of Arrie Rautenbach, with Absa CEO Corporate and Investment Charles Russon serving as Interim CEO since October 2024.
A Rapid Ascent in Banking Leadership
Fihla’s career at Standard Bank has been marked by strategic leadership and financial growth:
Joined Standard Bank in 2006, climbing the ranks in Corporate & Investment Banking (CIB)
Served as CEO of CIB before being promoted to Deputy CEO of Standard Bank Group in September 2024
Oversaw Standard Bank’s South Africa, Africa regions, and offshore businesses
His move to Absa marks a significant shift in South Africa’s banking landscape.
Absa’s Leadership Turnover: The 7th CEO in Seven Years
Fihla becomes Absa’s seventh CEO in as many years, reflecting ongoing executive transitions within the bank.
Maria Ramos – March 2009 to February 2019
René van Wyk – March 2019 to January 2020
Daniel Mminele – January 2020 to April 2021
Jason Quinn – April 2021 to March 2022
Arrie Rautenbach – March 2022 to October 2024
Charles Russon – October 2024 to June 2025 (Interim CEO)
Kenny Fihla – June 2025 – Present
Russon will remain Interim CEO until 16 June 2025, working closely with Fihla to ensure a smooth transition before taking on another senior role at the bank.
A Wave of Leadership Changes Across South Africa’s Banks
Fihla’s appointment is part of a broader shake-up across South Africa’s big four banks:
Nedbank: Jason Quinn, Absa’s former finance director, became CEO last year
FirstRand (FNB): Harry Kellan was promoted to CEO, replacing Jacques Celliers
FirstRand Group: Mary Vilakazi was promoted from CFO to CEO
What’s Next for Absa Under Fihla’s Leadership?
With Fihla stepping in as CEO, Absa is looking to stabilize leadership and drive strategic growth.
His extensive banking experience and Pan-African focus position him to navigate Absa’s competitive landscape while strengthening its regional and global footprint.
All eyes will be on Fihla’s leadership approach and how he steers Absa into a new era of banking success.
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Kenny Fihla Steps Down as Standard Bank Deputy CEO After 18 Years