FirstRand has made some changes to the leadership team within its banking portfolio, with Lytania Johnson assuming the dual role of FNB CEO and CEO of retail and business banking (RBB).
Harry Kellan, current CEO of the retail and commercial segment and FNB, will step down and take early retirement at the end of 2026, says FirstRand.
In a statement, FirstRand says the RBB segment replaces the retail and commercial construct, which serviced entry-level to middle income individuals and SMEs.
It further explains that a new standalone segment will sit alongside RBB, representing private banking and wealth management. Sizwe Nxedlana remains the CEO, a role he has held since 2023. The enterprise and public sector subsegments of commercial will move into the recently-established commercial and corporate bank run by Muneer Ismail.
Kellan has served as FNB CEO since April 2024, after taking over from Jacques Celliers. He has been with the group for 22 years, including 10 years as group CFO.
The financial services group states that Kellan embarked on a strategy to reduce structural complexity, improve agility and decision-making and unlock efficiencies, indicating that the structural changes announced today result from those efforts.
“In the two years I have been CEO of FNB, my focus has been on simplification, product, platform and structure,” says Kellan.
“The reconfiguration of the retail and commercial segment model is the next step required for the business to be even more agile and responsive to customer needs. I have every confidence in the new leadership team. They have been my colleagues for many years and have the expertise to make sure FNB maintains its market-leading position.”
Johnson has been with FNB for 25 years, serving as the CEO of the personal segment for the past three years.
The incoming CEO notes that the prospects for FNB remain compelling. “FNB has so many leading customer propositions built on the back of a strong culture of innovation and the promise of Help. This simplified structure will accelerate the bank’s ability to serve its customers better and offer these propositions in a focused and efficient manner to both existing and new to bank customers.
“By bringing together retail and business banking, we can better serve entrepreneurs, small businesses and households who require solutions that can cover their personal and business needs – helping more customers participate effectively in the economy.”
In addition to the changes at FNB, FirstRand has appointed Gert Kruger as group chief operating officer.
Kruger, who has been the group chief risk officer (CRO) since 2017, will now specifically focus on increasing collaboration, operational effectiveness and disciplined coordination across the group.
Emma Mer, previously the CRO of the retail and commercial segment and FNB, will replace Kruger as group CRO.
Mary Vilakazi, FirstRand CEO, says the group is confident the new structure will significantly reduce complexity, elevate segment CEO accountability and ensure ongoing execution of growth strategies.
“FNB is in a good place as demonstrated by its recent results, with the South African business delivering 10% growth in pretax profits with the overall FNB franchise increasing its ROE to 41%,” comments Vilakazi.
“Harry has done an excellent job to get the business to a point where it can embark on these changes with clear strategic objectives. The group’s succession and talent management approach has allowed it to undertake this restructuring with minimum disruption to senior talent and has created growth, tenure and increased accountability for a new generation of leadership.”
FirstRand says all the new management changes are effective from 1 April 2026 and have received the necessary regulatory approval.
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