New Absa Group Chief Operating Officer appointed

Absa Group has announced the appointment of Alfie Naidoo to the role of Group Chief Operating Officer, effective 01 July 2009.

Naidoo brings extensive management experience to his new role and will continue to serve as a member of the Absa Group Executive Committee.

With this appointment, Naidoo takes over from Peter Mageza who will be retiring from the Group at the end of June 2009.

“Alfie has managed various business units within Absa Retail with great success. He has a keen understanding of the financial services environment and we look forward to his invaluable contribution in this role,” said Maria Ramos, Absa Group Chief Executive.

Naidoo joined Absa in September 2001 and has operated in a number of executive roles across the Retail Bank.