Standard Bank Plc has appointed Phillip Madinga as the bank’s new chief executive officer (CEO) with effect from January 1 2021.

Madinga succeeds William le Roux who has been CEO for the bank for the past three years.

A statement signed by board chairperson Ngeyi Ruth Kanyongolo says Madinga brings to the bank an extensive experience in banking and financial services acquired over the last 26 years.

It further says Madinga has had a highly successful career over the last few years in leading, managing and growing businesses and driving financial perfomance for several banks.