Standard Bank of South Africa said its group CEO, Ben Kruger will be stepping down from the position.
The bank said Sim Tshabalala will be taking over the position from Ben Kruger.
Ben Kruger has over 31 years of experience in banking. He joined the group in 1985, taking up various roles in Standard Corporate Merchant Bank (SCMB). He was appointed chief executive of SCMB in 2001.
Between 2006 and 2008, he held the position of chief executive of global Corporate & Investment Banking and assumed the position of deputy group chief executive of SBG in 2009.
He has been group chief executive since 2013