In line with its refined segment strategy and growth ambitions, FNB has announced new leadership in its retail business. These changes follow FNB’s recent launch of an improved integrated advice approach, refreshed digital interfaces and logo, and a simplified range of payment solutions.
Within the overarching FNB retail operations Lytania Johnson is now appointed CEO of the Personal segment and Sizwe Nxedlana is appointed CEO of the Private segment. The bank believes these new appointments will bring deeper, dedicated focus to servicing the needs of FNB’s retail customers.
Raj Makanjee has, since 2018 had dual responsibilities as CEO of the overall retail segment and FirstRand Chief Digital Officer (CDO). He retains his retail CEO role until 30 June 2023, at which time he will transition to the dedicated group CDO position. This timeframe will enable a smooth transition and hand-over to Lytania and Sizwe, and Raj will be available to assist until his retirement from FirstRand in 2025. Raj’s leadership of the retail operations to date has been hugely impactful, delivering market leading client propositions and strong growth in profits and returns during his tenure. He has also developed a strong team across his portfolio, which has enabled this successful transition.
Lytania is a current member of FNB’s executive committee (EXCO). She has been with FNB for 21 years most recently in the role of Chief Risk Officer. During her time with FNB Lytania has held a number of executive roles, including the CEO of eWallet. Her portfolios have encompassed credit risk, client value propositions, regulatory oversight particularly with regards conduct and treating customers fairly, pricing and people management. The bank believes that given this experience and track record, Lytania is well placed to lead the Personal segment.
Sizwe has been with FNB for 14 years. He served as the CEO of FNB Wealth and Investments, and is a member of FNB's EXCO, currently responsible for driving the investment management and fiduciary capabilities. He is also a member of Raj’s retail segment EXCO in his capacity as deputy CEO of the wealth sub-segment. The bank believes Sizwe can now leverage this track record for the Private segment.
FNB CEO, Jacques Celliers, says, "Consistent with our efforts to continuously enhance customer value through our platform strategy and advice-driven approach the appointments allow us to effectively respond and provide the right help and services for our customers. This strategy was recently enhanced and relaunched to the market along with our refreshed brand. We are thrilled to be able to appoint individuals with many years of experience. Our ability to promote from within demonstrates the quality and depth of our talent.”