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Absa Group has announced the retirement of its Chief Executive Officer Maria Ramos who will leave office at the end of February 2019 after ten years at the helm.

The Board management expressed their gratitude to Ms Ramos for seeing Absa through the Global Financial crisis and the acquisition of Barclays African subsidiary banks for $1.3 billion in 2013.

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“With the separation on track and our new strategy as a standalone financial institution in place, Maria feels that this is the right time to retire,” the banks said in a statement.

In effect, René van Wyk has been appointed as the Absa Group and Absa Bank interim chief executive.

He has served as the Registrar of Banks at the South African Reserve Bank and has 19 years experience in the banking industry.

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