Stephen van Coller appointed CE of Absa Capital

Absa Group Limited announced today that Stephen van Coller has been appointed Chief Executive of Absa Capital.

Van Coller, previously Deputy Chief Executive and Head of Investment Banking at Absa Capital, takes over from John Vitalo on 1 October 2009. Vitalo has been responsible for Wealth in South Africa since 2008 and Chief Executive of Absa Capital since 2005, having joined from Barclays Capital.

Van Coller joined Absa Capital in September 2006 as Head of Primary Markets. He was later appointed Head of Investment Banking and more recently Deputy Chief Executive of Absa Capital and an Absa Group Executive Committee member in May 2009.

Van Coller will report jointly to Maria Ramos, Group Chief Executive of Absa Group, and to Benoit de Vitry, Head of Global Markets – Trading, Europe and Head of Commodities and Emerging Markets, Barclays Capital.

Vitalo was appointed Chief Executive of Barclays Investment Banking and Investment Management (IBIM) for the Middle East and North Africa in May this year in addition to his previous role as Chief Executive of Absa Capital.

He has agreed to continue his involvement with Absa as a special advisor to the Absa Group Chief Executive. He will also be part of the Barclays Capital senior management team managing its African operations.

“John has made an invaluable contribution making Absa Capital the top-tier Sub-Saharan investment bank, leveraging the strengths of Barclays Capital and Absa Group. As a consequence of those achievements, Absa Capital’s success is a benchmark for our Local Markets businesses,” said Benoit de Vitry.

“I am delighted to have someone with Stephen’s expertise and market knowledge to build on all that Absa Capital has achieved under John’s leadership. As one of the leading investment banks in sub-Saharan Africa, Absa Capital is an ongoing high priority for Absa Group and Barclays,” said Maria Ramos.