Absa announces senior appointments

Top Quote Absa announced two new appointments, namely, Sakhiwo Ntombela and Gustav Raubenheimer, to the bank today. End Quote
  • (1888PressRelease) November 15, 2010 - Sakhiwo (Saks) Ntombela, a former managing executive for Nedbank Retail, joins Absa as the new Head of Product while Gustav Raubenheimer, who joined Absa in 2008 from Nedbank Retail, becomes Absa’s new Head of Customer. Raubenheimer, a Chartered Accountant, had been Absa’s Retail Credit Risk Director.

    “It is my pleasure to announce these two new appointments to my Retail Team. Both appointees bring a wealth of skills, knowledge and experience into their new roles,” said Gavin Opperman, CE of Absa Retail Bank.

    “Saks was responsible for setting the strategic direction for Nedbank Retail and ensuring the sustainability and competitiveness of that Retail segment. He was also Chairman of the Nedbank Foundation and was instrumental in the launch of MPESA,” emphasised Opperman, adding that Ntombela had also enjoyed a stint as Old Mutual’s Operations Manager.

    A Bachelor of Science Mechanical Engineering graduate from the University of Natal, Ntombela is also a graduate of the University of Cape Town’s Graduate School of Business. He also completed the Advanced Management Programme at Harvard Business School in Boston.

    “With this highly analytical thinker as part of the Retail team, we are bound to develop effective solutions for our customers and other relevant stakeholders,” said Opperman.

    He added that some of Raubenheimer’s key responsibilities include instituting a streamlined and fully fledged retail credit portfolio. “This includes impairments, modelling, credit policy, pricing, systems and reporting. In addition, he also designed and implemented scorecard based credit policies that are Basel II compliant, inter alia, for current accounts, small business services, Old Mutual Bank and Nedbank Private Bank,” stated Opperman.

    A member of the South African Institute of Chartered Accountants and the CFA Institute, Raubenheimer has also served as a financial manager at First National Bank and Africon Engineering International.

    Raubenheimer assumed his new role from the beginning of this month while Ntombela joins the bank from 1 December 2010.

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