Absa's chief executive Maria Ramos welcomed the appointment of Antony Jenkins as the new chief executive of Barclays‚ saying the appointment would bring certainty to Absa's growth plans.
Jenkins was appointed following the resignation of Bob Diamond who quit after a rate rigging scandal.
The departure of Diamond‚ who was seen as key to the merger of Barclays and Absa's Africa operations‚ raised concern about the future strategy of South Africa's largest retail bank and the future of Ramos as its chief executive.
But Ramos said yesterday she had "excellent" relations with Jenkins. Barclays owns a 56% stake in Absa.
Commenting on the appointment of Barclays' new boss‚ Ramos said the appointment was good for Absa as Jenkins had run the retail and business bank division of Barclays since 2009.
"In this capacity he has been a champion of Barclays plans for Africa. He sits on the Absa board and has been a great partner to have on the Barclays executive committee as we have driven our Africa One strategy‚" Ramos said.
"Jenkins is committed to the One Africa strategy and we will continue to deliver on it. I am delighted at his appointment. It brings closure to a period of uncertainty sparked by the resignation of Bob Diamond. He will bring new energy and certainty to our growth plans and we look forward to working with him."
Patrice Rassou‚ head of equities research at Sanlam Investment Management‚ agreed that the appointment of Jenkins was positive for both Absa and Barclays.
"It's a good move for Barclays and Absa to appoint an insider. He has extensive retail knowledge and he been on the Absa board and various committees."
Asked if Jenkins‚ shared similar plans with Diamond to up Barclays' stake in Absa‚ Ramos said: "Absa recently issued a cautionary announcement regarding the proposed combination of Absa and most of Barclays Africa. It is still too early in the process to comment on how this might be structured."
