Absa’s aggressive recruitment drive is reshaping South Africa’s corporate‑banking landscape, as the lender adds another heavyweight from Standard Bank to its growing roster of senior executives. Sola Adegbesan, a 24‑year veteran of Standard Bank’s Global Markets division, will join Absa’s Corporate & Investment Banking (CIB) unit on 1 July 2026, taking charge of the Africa Regions under the oversight of Zaid Moola, Absa’s CIB chief executive. The move marks the latest in a series of high‑profile switches that underscore Absa’s ambition to cement a pan‑African footprint.
Since Kenny Fihla stepped into the role of Absa Group CEO, the bank has been on a talent‑acquisition spree, targeting senior staff from its main rival, Standard Bank. In the past twelve months, Absa has attracted executives whose combined experience totals over 116 years in banking, bolstering its expertise across the continent. This talent influx is a cornerstone of the Absa CIB expansion strategy, which aims to double the unit’s revenue from R37 billion in the 2025 financial year to R74 billion by the end of the next fiscal cycle.
The new managing executive for CIB Africa Regions will be based in Johannesburg, where he will steer growth, regulatory engagement and market entry across existing and emerging African economies. Adegbesan’s previous remit covered client teams in 19 African countries as well as Standard Bank’s offices in London and New York, giving him a trans‑continental perspective that aligns with Absa’s cross‑border objectives.
Absa CIB expansion gains momentum with senior hires from Standard Bank
| Executive | Previous Role (Standard Bank) | Years at Standard Bank | New Abba Position | Key Responsibilities |
|---|---|---|---|---|
| Sola Adegbesan | Head of Global Markets Clients – Africa | 24 | Managing Executive: CIB Africa Regions | Oversee regional growth, regulatory liaison, market expansion |
| Zaid Moola | Global Markets Head | 15 | Chief Executive, CIB | Lead overall CIB strategy, coordinate regional heads |
| Musa Motloung | Chief Risk Officer, CIB | 12 | Group Strategic Risk Officer | Shape risk framework, align group risk appetite |
| Avikaar Ramphal | Portfolio Head, Strategy Enablement, CIB | 10 | Head of Strategic Risk | Drive strategic risk initiatives, support business decisions |
| Clive Potter | Head of Client Coverage – South Africa | 9 | Managing Executive, Client Coverage | Manage client relationships, expand market share |
| Francisco Khoza | Head of Legal, CIB | 8 | Deputy General Group Counsel | Oversee legal matters, ensure regulatory compliance |
The table demonstrates how Absa has systematically poached senior talent, each bringing a decade‑plus of specialised experience. This concentration of expertise is expected to accelerate the Absa CIB expansion, particularly as the bank eyes untapped markets in West and Central Africa.
Beyond the Standard Bank exodus, Absa has also secured seasoned professionals from other global houses. Saloshni Pillay (formerly Deutsche Bank) and Giles Douglas (formerly Rothschild & Co) have joined the ranks, adding depth in advisory and capital‑markets capabilities. These additions complement the broader strategy to boost profitability: the CIB unit reported a R13 billion profit for the 2025 fiscal year, a solid foundation for the ambitious revenue target.
The talent offensive is not limited to the CIB arm. Earlier this week, Absa appointed Leon Barnard, another former Standard Bank senior, to lead its Pan‑African Business Banking unit. Barnard left Standard Bank two years ago and now faces the challenge of translating Absa’s growing footprint into tangible loan growth across the continent.
Absa’s push for a stronger pan‑African presence also extends to its personal and private banking division. Sitoyo Lopokoiyit, former head of M‑Pesa, was installed in April to rejuvenate the business, signalling that the transformation agenda covers the full spectrum of banking services.
Industry observers note that Standard Bank, historically a talent‑retention stronghold, is feeling the pressure of a leadership vacuum created by Fihla’s departure. The “revolution” spearheaded by Fihla has turned Absa into a magnet for senior bankers seeking new challenges and wider regional impact. As the competition for top talent intensifies, the ripple effects could reshape the hierarchy of South Africa’s banking sector for years to come.
With a refreshed management team and a clear growth mandate, Absa appears poised to turn its CIB expansion plans into measurable results. The bank’s next fiscal report will reveal whether the talent surge translates into the projected R74 billion revenue target, a figure that would mark a historic leap for South Africa’s second‑largest lender.