• FNB has appointed two new chief executive officers for its Private and Personal banking segments.
• Lytania Johnson will serve as CEO of the Personal segment while Sizwe Nxedlana will serve as CEO of FNB’s Private segment.
• Current FNB Retail CEO Raj Makanjee will continue to serve as CEO until 30th June 2023.

On the back of revealing a new logo that inspired colourful critique, FNB has announced a shake-up within its Retail banking division.

The financial institution has appointed two new chief executive officers for its Private and Personal banking segments. The CEO of the Personal segment is Lytania Johnson while the CEO of the Private segment is Sizwe Nxedlana. Both CEOs were appointed from within FNB.

“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,” said FNB CEO Jacques Celliers.

“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,” the CEO added.

According to a press release, Johnson has worked at FNB for 21 years where she has held a number of executive roles. Her portfolios have encompassed credit risk, client value propositions, regulatory oversight particularly with regards conduct and treating customers fairly, pricing and people management. Most recently Johnson served as Chief Risk Officer.

As for Nxedlana, he has worked for FNB for 14 years and most recently served as the firm’s CEO of FNB Wealth and Investments.

The appointment of these two CEOs sees long-time Retail CEO Raj Makanjee transitioning to FirstRand’s Chief Digital Officer but not just yet. For now, Makanjee will continue to serve as Retail CEO but come 30th June 2023, he will take up the CDO mantle full-time until his retirement.

“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,” FNB said in a media release.

“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,” the firm adds.

These new appointments are in-line with FNB’s new direction. Earlier this month the firm announced a new direction informed by advice and guiding customers more easily. This was revealed alongside a new logo that we still feel looks more like a Rest Stop sign you might see on South African motorways.

Our distaste for the logo aside, these two appointments are very welcome and we hope that Johnson and Nxedlana can help customers with new innovations in their respective segments.