Arrie Rautenbach: Six months after taking hot seat, Absa's through-the-ranks CEO explains why "reimagined" bank is outperforming peers

For many observers of SA's banking sector, Absa has been the sleeping giant that somehow never manages to fulfil its huge potential. After numerous of false starts, however, under new CEO Arrie Rautenbach, this time may indeed be different. The banking group's new leader started at the very bottom of the pile (in collections) a quarter century ago and has packed his Executive Committee with other Absa 'lifers'. He appeared an unlikely candidate for the top job, but since his appointment in late March Rautenbach has accelerated the "reimagining" of a group emerging from a three year process of extricating itself from former parent Barclays Plc. This interview with Alec Hogg of BizNews goes some way to confirm why so many JSE investors, including financial services investing guru Kokkie Kooyman, are tipping a resurgent Absa as the bank most likely to challenge SA's long-time market leader FirstRand. Learn more about your ad choices. Visit megaphone.fm/adchoices