The Standard Bank Malawi has appointment Phillip Madinga as its new Chief Executive Officer.
The board’s chairperson Ngeyi Kanyongolo said in a press statement dated 21 December 2020 that Madinga will take up the new role on January 1, 2021 succeeding William (Bill) le Roux who served as the bank’s CEO for three years.
Madinga who holds a Master of Business Administration and a Bachelor of Business Administration (Hons) from the University of Stellenbosch Graduate Business School, and a Bachelor of Social Science majoring in Economics from the University of Malawi Chancellor College takes up the new role having worked 26 years in the banking sector.
Kanyongolo said Madinga’s experience together with his personality will help the bank in advancing its operations and the bank will support him in his new role.
“Phillip has had a highly successful career over the past years in leading, managing, growing business and driving financial performance for several banks. The board has confidence in Mr. Madinga’s capabilities to carry Standard Bank plc Malawi into the future and will support him in his efforts to bring more than banking to our customers,” reads part of the statement.
In the statement, the bank hailed the outgoing CEO for the services he rendered during the three-year tenure which, according to Kanyongolo, contributed to the bank’s success.
“During his time as CEO, Bill has laid the foundation for a sound financial services institution capable of delivering world class banking services and products in line with the bank’s customer-centricity and digitization technologies. He leaves behind a very strong, healthy and profitable bank which is technologically ready to become one of the leading digital banks in Malawi,” reads the statement.
The board has also wished well Bill as he has been moved to another department within the Standard Bank group.
