Standard Bank Group has announced the resignation of Kenny Fihla, its Deputy Chief Executive and Chief Executive of Standard Bank South Africa (SBSA), after nearly two decades of service. His departure, effective immediately, marks the end of a distinguished tenure that saw significant growth and transformation within the bank’s Corporate & Investment Banking (CIB) division.
Sim Tshabalala, CEO of Standard Bank Group, confirmed Fihla’s resignation, stating that while it is a loss for the organisation, the bank remains well-positioned with a deep reservoir of leadership talent. “Whilst this is a heavy blow for us, the Group is blessed with a surfeit of talent and deep succession pools,” he noted, adding that further leadership announcements will follow in due course.
Fihla joined Standard Bank in 2006 as an executive in the Financial Asset Services business of CIB and steadily rose through the ranks. His leadership roles included Head of Transactional Products & Services, Head of Client Coverage, and Deputy Chief Executive, culminating in his appointment as CIB Chief Executive in June 2017.
Under his stewardship, CIB’s headline earnings doubled to R20.5 billion, achieving a compound annual growth rate (CAGR) of 8.6%. His extensive experience in business, government, and the labour movement made him a key figure in shaping the bank’s corporate and investment strategy, both in South Africa and globally.
“We are fortunate to have been able to draw on his unique combination of experience and wisdom,” said Tshabalala. “Kenny has made an immense contribution to our Group in his various roles and is recognised as an accomplished banker and leader.”
Standard Bank has yet to announce Fihla’s successor, with the group expected to make further leadership decisions in the coming weeks.
With operations in 20 African countries, as well as global financial centres and offshore hubs, Standard Bank remains Africa’s largest bank by assets. As of 31 December 2024, the group served 20 million clients, employed over 50,000 people, and maintained a strategic partnership with the Industrial and Commercial Bank of China (ICBC), its largest shareholder with a 19.6% stake.
Fihla’s departure signals a shift in leadership at one of Africa’s most influential financial institutions. His next move remains undisclosed, but his contributions to Standard Bank’s growth and development leave a lasting impact on the sector.
