Absa's poaching intensifies: Deutsche’s SA CEO joins the inflow

Key topics:Pillay joins Absa to lead South Africa investment banking from Deutsche BankFihla reshapes Absa leadership, hiring executives for stability pushAbsa expands via acquisitions and strong share gains under new strategy.Sign up for your early morning brew of the BizNews Insider to keep you up to speed with the content that matters. The newsletter will land in your inbox every morning on weekdays. Register here.Support South Africa's bastion of independent journalism, offering balanced insights on investments, business, and the political economy, by joining BizNews Premium. Register here.If you prefer WhatsApp for updates, sign up to the BizNews channel here..By Loni Prinsloo.Deutsche Bank AG’s South Africa head Saloshni Pillay will join Absa Group Ltd. to lead its investment bank in the country as the continent’s third-largest lender by assets seeks to boost its competitiveness.Pillay, who served as chief executive officer and country manager of South Africa and head of investment banking for sub-Saharan Africa at Deutsche Bank, will take up her new role as managing executive for corporate and investment banking South Africa at Absa in mid-July, said Daniel Munslow, the lender’s spokesman. Pillay brings more than 25 years of experience in corporate and investment banking across global markets, Munslow said in response to a Bloomberg query. “Her appointment supports Absa’s focus on strengthening its corporate and investment banking franchise in South Africa and delivering sustainable growth,” he said..Read more:.Absa’s new CEO Fihla breaks cover, outlines priorities .The hire is the latest in a string of appointments by Absa Group CEO Kenny Fihla as he seeks to stabilize leadership at the lender, which has had six CEOs since 2019. Fihla has said that management stability will help the bank’s more than 36,000 employees focus on clients and boost its return on equity..The lender has poached several senior executives, including Zaid Moola, who heads its corporate and investment banking unit, and Musa Motloung, who was appointed group strategic risk officer, both from Standard Bank Group Ltd. It also hired M-PESA Africa’s Sitoyo Lopokoiyit, who took over the personal and private banking unit at the start of April.Pillay previously held senior leadership roles at Absa including in global markets sales and structuring, risk solutions and client solutions, Munslow said. She has also had leadership positions at Citigroup Inc., Standard Bank and Crédit Agricole’s CIB unit.Since Fihla joined Absa on June 17, the bank’s shares have climbed almost a third, outpacing the 26% gain in the FTSE/JSE Banks Index over the same period and lifting its market value to 208 billion rand ($12.5 billion).The bank’s latest deals include the purchase of Standard Chartered Plc’s Uganda unit and HSBC Holdings Plc’s retail and business banking portfolio in Mauritius..© 2026 Bloomberg L.P.

Absa's poaching intensifies: Deutsche’s SA CEO joins the inflow

Related Stories

Banker who sold ABSA back to SA faces Capitol Hill reckoning over Epstein ties

Middle East tensions threaten first SA rate hike since 2023

Treasury's crypto crackdown changes everything: Dawie Roodt warns SA’s government is losing control

Motsepe-backed GoTyme turns employees into shareholders in growth push