The Board of Directors of AfrAsia Bank Limited announced today the resignation of its Chief Executive Officer, Mr James Benoit, and its Deputy CEO, Head of Global Banking, Treasury and Markets, Mr Kamben Padayachy.
Mr Thierry Vallet, who has worked as General Manager and Head of Private Banking within AfrAsia for 8 years, will be the acting CEO of the bank, subject to regulatory approval.
The Board has initiated the process for the recruitment of a new CEO, who will be tasked to spearhead the reorganization of the bank’s internal structure to better serve its banking and non-banking clients. With this organisational transformation, the ABL franchise will be well positioned to reinforce its foothold in its various markets and create more value for its shareholders.
The Board wishes to thank Messrs Benoit and Padayachy for their contribution.
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