Kennedy Bungane has been named the new chief executive officer of African Bank.
Bungane is the former head of Barclays Africa and Absa Group strategy. He also worked at Standard Bank, where he held a number of positions including head of global markets sales.
In a statement on Thursday, African Bank's Chairperson, Thabo Dloti, said Bungane's passion for the role that banking can play in transforming society "resonated strongly with the board".
"He has a proven track record in identifying and nurturing leadership, which promotes strong teams to deliver successful results."
Bungane, in a short statement, said, "I believe I can play a meaningful role in the ongoing growth and transformation of the Bank and continue to position it as a significant competitor within the South African financial services landscape."