Barclays Africa Group has appointed Charles Russon as its new Chief Technology Officer (CTO). He is currently group chief operating officer. As CTO, Russon is responsible for managing technology infrastructure, cyber and data.
Meanwhile the bank has announced a new structure that it says aligns the group’s executive committee portfolios with its new strategy announced at the beginning of March.
The group, says it plans to double its market share of Africa banking revenues from 6% to 12%.
The new structure has four core businesses, each headed by a chief executive officer. These are the Retail and Business Banking (RBB) South Africa, Corporate and Investment Banking (CIB), Wealth, Investment Management and Insurance (WIMI) and Rest of Africa (RoA) – 10 markets outside South Africa.
South Africa Banking will cease to be a management or reporting segment, the bank said in a statement on Monday.
Barclays Africa Group advised its shareholders in March of its intention to change its name from Barclays Africa Group Limited to Absa Group Limited. The name change will be effective from 30 May 2018, the bank said.