Standard Bank Group Ltd. has named a female Black person to chair Africa’s biggest lender by assets for the first time.
Nonkululeko Nyembezi has been appointed as Chairman-designate effective June 1, according to a statement on Tuesday. She replaces Thulani Gcabashe, who will retire after the annual general meeting on May 31.
“It is hugely significant to us that the Standard Bank will shortly have its first female chairman, and that this chairman is a black African woman,” Chief Executive Officer Sim Tshabalala said.
Nyembezi has previous served as chairman of the JSE Ltd., South Africa’s main …