South Africa-based integrated financial services group, FirstRand has announced that Sizwe Nxasana, the CEO of FirstRand Bank, will succeed Paul Harris by also becoming CEO of FirstRand Limited. As previously indicated, Mr. Harris will retire on 31st December 2009.
The Group has also announced the appointment of Johan Burger, FirstRand Limited and FirstRand Bank CFO, as Chief Operating Officer (COO) of FirstRand Group with immediate effect.
Mr. Nxasana, said: “It is a great privilege to inherit the leadership of FirstRand from businessmen of the caliber of the FirstRand founders. With Paul moving into a non executive role at the end of the year, combined with Laurie’s recent appointment as Chairman of FirstRand Limited and FirstRand Bank, these changes ensure that the management team will continue to have access to strategic input from them through the Boards.”
Mr. Harris, said: “Sizwe and Johan have worked closely together over the past three and half years and I believe that their respective skills, combined with the strong and established leadership at franchise level, means that FirstRand has a very powerful team to take the business forward.”
