Standard Bank CEO Sim Tshabalala, CFO Daehnke to Retire in 2027

Standard Bank Group Ltd. Chief Executive Officer Sim Tshabalala and Group Chief Finance and Value Management Officer Arno Daehnke will retire by the end of 2027, even as the lender increased the retirement age for its executives.

While Africa’s biggest bank by assets raised the retirement age for its executives to 63 from 60, that won’t apply to Tshabalala and Daehnke, the lender said in an emailed statement on Thursday.