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Business News of Tuesday, 17 December 2019

Source: Absa Group

Absa appoints Cheryl Buss as CEO to spearhead bank’s international ambitions


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Absa Group, the leading pan-African financial services group, has appointed Cheryl Buss as Chief Executive of Absa International which includes managing Absa Securities United Kingdom.

Among other responsibilities, this position will see her lead the bank’s international operations in its efforts to enable a globally scalable business that drives connectivity with corporate and institutional clients through an independent international presence.

This, according to the Absa Group, will, in turn, allow it to deliver Africa to its clients.

The appointment comes on the heels of the group’s announcement that it’s received certain regulatory approval to open a representative office in New York.

Absa established a UK representative office in September 2018, and expects the US New York office to be operational within the next six months, subject to further regulatory approvals.

Cheryl joined Absa in 2008 and managed the Global Clients Africa (GCA) business under the One Africa strategy which launched in 2011.

The One Africa strategy included building the start-up strategy for the business, ensuring successful alignment with Group and designing a new operating model to support targets that were effectively achieved.

Since the Barclays Plc announcement in 2016 where it sold its majority shareholding in Barclays Africa, Cheryl has managed the separation of the GCA business which included the strategic build-out of the Absa International Coverage business.

She has 24 years of multi-disciplinary banking experience across Africa and the United Kingdom.

Prior to her joining Absa, Cheryl worked at Standard Chartered where she held various roles.

Cheryl Buss, Absa International CEO in a commented stated that: “This is a pivotal moment in terms of Africa’s relationship with the wider globe. International organisations are pursuing the exciting economic potential the African continent has to offer, and Absa’s international strategic intent enables our client-led strategy to be a leading and relevant African bank to institutions investing on the Continent.”

Charles Russon, Absa CIB CEO comments: “Cheryl is the perfect choice with the right qualities and experience to oversee these ambitions and drive the strategy forward. The expansion of the position she is taking up will give the unit a singular focus and lead, and underlines how serious Absa is about this side of the business.”

Cheryl will be based in London, reporting into Charles Russon, the corporate and investment bank’s CEO.

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