New era for Absa while Maria Ramos descends

Maria Ramos's decision to step down as CEO of Absa after exactly a decade in office marks the end of a tumultuous era for SA's third-most-valued bank, which now plans to reclaim lost ground under former father Barclays plc .

Since Ramos took office in March 2009, Absa has been the worst performer in the JSE banking index. Although its market capitalization tripled to $ 15.9 billion, the first-tier industry giant grew six-fold, while Standard Bank, Nedbank, RMH and newcomer Capitec outperformed Absa.

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