Leadership Overhaul Appointed at Africa's Most Valuable Banking Group, FirstRand

Amid a challenging global economic landscape, FirstRand, Africa’s most valuable banking group, has charted a strategic course by announcing a series of substantial leadership changes. The alterations, set to roll out over the following six-month period, are expected to see a complete transformation of key posts of the board chair, Chief Executive Officer (CEO), and leader of the retail banking division.

FirstRand’s incumbent CEO, Alan Pullinger, will be stepping down from his position in 2022. Pullinger's tenure of six years at the helm of the group has been marked by robust growth and resilience. However, Pullinger's departure will not leave a leadership void.

Mary Vilakazi, the group's current Chief Operating Officer (COO)^, is poised to ascend to the CEO position upon Pullinger's departure. Vilakazi, who has been meticulously grooming for the CEO position since her appointment as COO in 2018, is set to take the reins.

The subsequent changes within the board and retail banking division will contribute to a dynamic shift within the bank’s operations. The "fresh brooms", as they are referred to, symbolise the onset of a new era for FirstRand. This pivotal moment in the bank’s history optimises operations in line with the evolving banking landscape.