Absa appoints new Managing Executive for Absa Wealth

Nomkhita Nqweni

Absa Group Ltd (Absa) announced today the appointment of Nomkhita Nqweni as Managing Executive of Absa Wealth with effect from the 1^st of June 2010.

Nqweni joins Absa Wealth, Absa’s High Net Worth (HNW) wealth management offering which is affiliated to Barclays Wealth, following a distinguished career with the Alexander Forbes Group spanning almost 13 years.

Commenting on the appointment, Stephen van Coller, Chief Executive of Absa Capital with local responsibility for Absa Wealth, said: “We are delighted to have someone of Nomkhita’s calibre and experience lead the Absa Wealth team at this exciting juncture in its history, as it further entrenches itself in the HNW market with its unique offering.”

“I have every confidence that Nomkhita will continue to realise Absa Wealth’s goal of becoming the leading wealth manager in South Africa,” added van Coller.

Emmanuel Fievet, Head of IPB EMEA, Barclays Wealth said that the appointment was indicative of Barclays Wealth’s commitment to the region.

“South Africa remains an important growth market for Barclays Wealth as well as for Barclays and the Absa Group. Nomkhita’s arrival will be a key step towards leveraging our capabilities in the region,” said Fievet.

Nqweni graduated from Rhodes University with a BSc and holds Post Graduate Diploma in Investment Management from RAU.

She has held numerous board positions within the Alexander Forbes Group and served on the Board for Financial Services Regulation.

Nqweni recently stepped down as the President of the Association for Black Securities and Investment Professionals (ABSIP), having served in various positions within the organisation for over six years.