Arno Daehnke (pictured), who has headed the Standard Bank Group's treasury and capital management division since 2010, has been appointed group FD.
Daehnke's appointment comes as a result of the current FD, Simon Ridley, having reached Standard Bank's obligatory retirement age of 60. Ridley is expected to make way for Daehnke at the end of April, and has said he will make himself "available for nonexecutive roles in our subsidiaries, particularly in our banks across Africa".
- Simon Ridley was recognised as CFO of the Year 2014. Watch his keynote address at the awards presentation.
- Read more on this year's CFO Awards.
Daehnke has much experience managing complex banking group balance sheets in difficult financial markets, and was chosen from a handful of internal and external candidates.
Daehnke holds a PhD from the University of Vienna, an MSc from University of Cape Town, and an MBA from Milpark Business School. Some analysts believe it is the diversity of Daehnke's background that will serve him well in this new position.
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