Standard Bank Group Limited

Management Reports • Aug 30, 2024

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RNS Number : 3657C

Standard Bank Group Limited

30 August 2024

Standard Bank Group Limited

30 August 2024

Appointment of Senior executives and Non-executive director

Standard Bank Group

Senior executive appointments

In compliance with section 3.59 of the Listings Requirements and section 6.39 of the Debt Listings Requirements of the JSE Limited, Standard Bank Group is pleased to announce senior executive appointments and associated changes to its management structure. These changes will enable the executive team to focus more precisely on their mandates and continue to develop their expertise and networks.  They will, further, assist the Group in the ongoing process of ensuring it has the number and depth of executives it needs to maintain and extend the Group's success into the future.

The following changes will take effect from 1 September 2024:

-     Kenny Fihla will be appointed as Deputy Chief Executive of Standard Bank Group and Chief Executive of SBSA.  Accordingly, he will be an executive director of SBSA, appointed in line with SBSA's policy dealing with the nomination of directors.  As Deputy Group Chief Executive, Kenny Fihla's responsibilities will include the Group's Africa Regions and Offshore businesses. Kenny Fihla will continue to report to the Group Chief Executive, Sim Tshabalala.

-     Luvuyo Masinda will be appointed as Chief Executive of Corporate and Investment Banking, to succeed Kenny Fihla. Luvuyo Masinda will report to the Group Chief Executive, Sim Tshabalala.

-     Lungisa Fuzile will step down from his role as Chief Executive of SBSA and accordingly, resign as a director from the SBSA Board.  He will take up two new roles in Standard Bank Group, the first being as the Group Head: Public Policy and Regulation.  He will also assume the role of Regional Chief Executive of the Group's Southern & Central Region of the Africa Regions portfolio.

-     Yinka Sanni, current Chief Executive of Standard Bank Africa Regions and Offshore, will take on the role of Group Executive, leading the Group's relationships with some of our top clients and regulators.  He will also support Kenny Fihla in refining the structure of the Africa Regions and Offshore businesses.

Lungisa Fuzile and Yinka Sanni will report to the Deputy Group Chief Executive, Kenny Fihla.

Appointment of a non-executive director

In compliance with section 3.59 of the Listings Requirements and section 6.39 of the Debt Listings Requirements of the JSE Limited, Standard Bank Group is pleased to announce the appointment of Mr Fenglin Tian as non-executive director and senior deputy chairman to its board and non-executive director on the board of SBSA, in line with SBSA's policy dealing with the nomination of directors, with effect from 1 September 2024.

Mr Tian (56) holds a Master's degree in Economics from the Huazhong Agricultural University and a MBA degree from the University of Chicago. He currently serves as the Chief Business Officer of the Industrial and Commercial Bank of China Limited ("ICBC"), a position he has held since December 2023. He joined ICBC in 1992 and has held various positions including Vice Chairman of ICBC (Argentina), General Manager of the Corporate Banking and the Investment Banking departments and general manager / deputy general manager of various branches of ICBC.

Mr Tian's appointment to Standard Bank Group is pursuant to an agreement between Standard Bank Group and ICBC, a shareholder of Standard Bank Group, wherein ICBC is entitled to nominate two

non-executive directors for appointment to the board, one of whom serves as the senior deputy chairman. Mr Tian replaces Dr Xueqing Guan who resigned from the board on 10 June 2024

For further information, please contact:

Marc Hearn

Standard Bank Group Limited

9th Floor

5 Simmonds Street, Johannesburg PO Box 2001

South Africa

Telephone number: + 27 11 344 5004

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