Nedbank said yesterday it had appointed Alexforbes’ outgoing chairperson and former SA Reserve Bank (SARB) deputy governor Daniel Mminele as an independent non-executive director and chairperson-designate.
Mminele’s resignation from Alexforbes is effective from April 30, while his role as Nedbank independent non-executive director role starts on May 1.
Mminele would be elected chairperson after Nedbank’s annual general meeting on June 2, the bank said in a statement.
He succeeds Nedbank’s current chairperson, Mpho Makwana, who is also the acting chairperson of Eskom.
Makwana has been Nedbank’s chairperson since December 2021, following more than nine years on the board. He will retire at the conclusion of the June AGM.
Mminele also recently stepped down from the Presidential Climate Finance Task Team, where he spearheaded investment plans for Just Transition projects.
He was a former CEO of Absa Group and served two five-year terms as SARB deputy governor.
Before joining the SARB in September 1999, he worked for African Merchant Bank and Commerzbank in South Africa, and WestLB in the UK and Germany for 12 years.
Nedbank said the appointment had followed “a robust succession process” that commenced early in 2022.
Nedbank Group lead independent director Hubert Brody said: “The group will benefit from his vast expertise and experience in banking and financial services, including climate finance, through his serving as the head of the Presidential Climate Finance Task Team. My board colleagues join me in wishing Daniel a successful tenure with the group.”
Mminele said in a statement that he looked forward to working with Nedbank board colleagues, the management team, employees and the bank’s broader stakeholder community as they delivered on strategic commitments and ambitions.
BUSINESS REPORT