Standard Bank appoints ex-Treasury head as CEO

Lungisa Fuzile. [Photo: Courtesy]

Standard Bank Group Ltd has appointed Lungisa Fuzile, the former director-general of South Africa’s National Treasury, as the chief executive officer of its operations in South Africa.

Fuzile, 51, will start as soon as possible, Standard Bank group CEO Sim Tshabalala said by phone. The country’s central bank has approved Fuzile’s appointment, Tshabalala said.

“He’s a seasoned economist with a deep knowledge of the financial system, the policies,” Tshabalala said of Fuzile. “He’s got an extensive network of relationships within the corporate and regulatory environment.”

He asked to leave the National Treasury in April, a year before his contract expired, after the firing of former Finance minister Pravin Gordhan.