Arrie Rautenbach named new ABSA CEO in its first internal appointment since 2006

In a statement, the bank said the appointment followed a thorough recruitment and selection process completed by the board.

An Absa bank branch. © wirestock/123rf

JOHANNESBURG - The ABSA group has announced the appointment of Arrie Rautenbach as Chief Executive Officer.

In a statement, the bank said the appointment followed a thorough recruitment and selection process completed by the board.

Rautenbach is currently Chief Executive of the group's retail and business banking unit.

He is the first internally appointed CEO since 2006.