Premium Journalist
1 minute read
31 Jul 2015
11:53 am

African Bank builds new management team


African Bank, the embattled mass market lender that went into curatorship in August last year, on Friday announced the appointment of Gustav Raubenheimer as chief financial officer designate.

FILE PICTURE: African Bank. (Photo by Gallo Images / Foto24 / Theana Breugem)

The 45-year-old, who has been executive for credit at African Bank since October 2012, joins Brian Riley, who was appointed chief executive officer designate earlier this year. Raubenheimer, a chartered accountant and chartered financial analyst, was previously chief risk officer, retail and business banking, at Absa Bank, and before that he was head of the retail credit lab at Nedbank..

Riley said the bank would benefit from Raubenheimer’s extensive retail financial services and credit background “as well as experience gained through some difficult times in African Bank”.

Raubenheimer said he was excited about the opportunity, adding: “I am joining a dynamic and energised executive team, who I believe will deliver innovative, value driven products to South Africans.”