Standard Bank names first black CEO, Sim Tshabalala

Standard Bank, Africa's largest bank by assets Photo:Courtesy

Standard Bank, Africa's largest bank by assets, has appointed Sim Tshabalala as its first black chief executive after four years of sharing the role, the company said.

South Africa's financial sector, the economy's largest, is often criticised by politicians for a perceived lack of transformation and remains dominated by white executives 23 years after the end of apartheid.