April 9, 2018 / 8:17 AM / 12 days ago

BRIEF-Absa Banks Says New Structure Will Consist Of 4 Businesses

April 9 (Reuters) - Absa Bank Ltd:

* CHANGES TO GROUP STRUCTURE AND MANAGEMENT

* SOUTH AFRICA BANKING WILL CEASE TO BE A MANAGEMENT OR REPORTING SEGMENT

* DAVID HODNETT, CURRENTLY DEPUTY CHIEF EXECUTIVE, WILL TAKE A TWO-MONTH SABBATICAL.

* NEW STRUCTURE WILL CONSIST OF 4 BUSINESSES, INCLUDING RETAIL AND BUSINESS BANKING SOUTH AFRICA; CORPORATE AND INVESTMENT BANKING

* ARRIE RAUTENBACH BECOMES CHIEF EXECUTIVE OFFICER OF RBB SOUTH AFRICA

* NEW STRUCTURE WILL CONSIST OF 4 BUSINESSES, INCLUDING REST OF AFRICA BANKING; AND WEALTH, INVESTMENT MANAGEMENT AND INSURANCE (WIMI)

* PETER MATLARE, CURRENTLY DEPUTY CHIEF EXECUTIVE, REMAINS RESPONSIBLE FOR REST OF AFRICA BANKING

* NOMKHITA NQWENI CONTINUES AS CHIEF EXECUTIVE OFFICER, WIMI.

* CIB REMAINS UNDER JOINT LEADERSHIP OF TEMI OFONG AND MIKE HARVEY Source text for Eikon: Further company coverage:

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