It’s a pity ABSA’s Rene van Wyk was the only CEO of SA’s Big Five banks at WEF Africa last week. The WEF only comes to Cape Town every second year, so for the banking bosses, it was surely opportunity missed. But Van Wyk certainly made the most of it, hosting an innovative Dome opposite CTICC.
It was the first time I’d met Van Wyk, the ex-Registrar of Banks and ABSA main board director who moved into the CEO’s office after Maria Ramos unexpectedly quit at the end of January. Van Wyk, formerly with Nedbank, was appointed to hold the fort until the ABSA’s new CEO (who has been selected, but not yet announced) takes over next year.
Why Ramos departed in such haste is a mystery heightened by her having just started ABSA’s massive re-engineering exercise. A recall to national service was widely blamed for the swift departure. But apart from a directorship at the PIC, she hasn’t been given much Thuma Mina responsibility. Yet.
For his part, Van Wyk struck me as more than a safe pair of hands. And admits being genuinely moved by energy unlocked at ABSA after a layer of management was removed and authority devolved to the branches. As you’ll hear in the interview, banking, ABSA-style, will never be the same again.
