Meet the new CEOs of Absa, FNB and Nedbank

Three of South Africa’s ‘Big Four’ banks are under new leadership as the market rallies behind the Government of National Unity.

South Africa’s market has responded positively to the Government of National Unity formation between the ANC and nine other parties, most notably the market-friendly DA and IFP.

“He has a proven track record in banking in South Africa and other parts of Africa to build upon Mike Brown’s legacy,” said Nedbank chairperson and former Absa CEO Daniel Mminele. Quinn said he is optimistic about the potential benefits of South Africa’s new GNU and improved macroeconomic conditions in the second half of 2024.

As a long-standing retail and commercial executive committee member and the FNB advisory board member, Kellan has helped shape many of FNB’s key strategies. Due to the uncertainty, the group raised an accounting provision based on its probability-weighted scenario principles, which it constructed from its data analysis. This provision includes potential legal and redress costs.

He joined Absa Capital in 2006 as CFO and has held several senior roles at the group, including Regional Head of Finance, Chief Operating Officer, and Chief Executive of Engineering Services.

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