Leslie Maasdorp steps down as Vice Chairman of Absa Capital and Barclays Capital

Leslie Maasdorp has resigned from his position as Vice Chairman of Absa Capital and Barclays Capital with effect from 8 October 2010 to pursue opportunities outside the Group.

In 2004 Maasdorp was a co-promoter alongside Tokyo Sexwale and Ntobi Angel of Absa’s BEE transaction. As a co-founder of Batho Bonke Capital he played a critical role in structuring the deal and forming the consortium. Following the conclusion of Absa’s BEE transaction with Batho Bonke in 2004, he joined the boards of Absa Group and Absa Bank.

Absa Group CE, Maria Ramos said: “Part of Leslie's legacy with the bank is the critical role he played in engineering our BEE transaction six years ago. In addition he was a key member of the initial team building the Absa-Barclays franchise after our transaction with Barclays in 2005.”

In 2006 Maasdorp joined Absa Capital and Barclays Capital in a full-time capacity as Vice Chairman. During this period he served on the Exco and played a central role in building the Absa Capital franchise in South Africa and the continent.

Stephen van Coller, CE of Absa Capital said: “Leslie has played a vital role in our journey since the inception of Absa Capital. We wish to thank Leslie for his contribution to the business over the past five years and wish him well for the future.”