FirstRand Group named Mary Vilakazi as its new Group Chief Executive Officer with effect from 1 April 2024, placing her at the helm of South Africa's largest bank by market capitalisation. The appointment follows the departure of Alan Pullinger, who had served as Group CEO since 2018.
FirstRand described the leadership change as a demonstration of the benefits of its multi-year succession planning process. FirstRand announced the changes on 4 October 2023, six months before they took effect.
FIRSTRAND'S BUSINESSES
FirstRand encompasses a range of financial services brands, including FNB, Rand Merchant Bank, and WesBank, giving the group broad exposure across retail banking, corporate and investment banking, and vehicle and asset finance.
Vilakazi is the first woman to lead FirstRand and the first Black woman to head one of South Africa's big banks.
VILAKAZI'S BACKGROUND
Vilakazi joined FirstRand as group chief operating officer in 2018 and worked closely with Pullinger on strategy execution, leading the group's diversification into insurance and investment management.