Standard Bank Group, Africa’s biggest bank by assets, has confirmed that its Chief Executive Officer, Sim Tshabalala, and Chief Financial Officer, Arno Daehnke, will step down from their roles by the end of 2027. The announcement came on Thursday alongside the bank’s release of its half-year financial results, which showed an improvement in both earnings and returns.
The news follows the bank’s internal review of retirement age policies for executives. The board recently decided to raise the normal retirement age for senior executives from 60 to 63 years. However, in this case, the change will not apply to Tshabalala or Daehnke. Both will still retire at the age of 60, in line with the existing rules when they were appointed. The decision is part of Standard Bank’s long-term leadership succession planning.
According to the official statement, Tshabalala and Daehnke are expected to retire toward the end of 2027, giving the bank enough time to prepare for a smooth transition. Tshabalala has been with Standard Bank for many years and took on the role of CEO in 2013, becoming the first Black person to lead the 161-year-old banking group. His tenure has been marked by expansion into new markets, digital banking transformation, and strong financial performance despite economic challenges in South Africa and other African markets.
CFO Arno Daehnke, who joined the bank in 2010 and became Chief Financial Officer in 2016, has played a key role in strengthening the bank’s balance sheet, improving cost efficiency, and maintaining investor confidence during periods of economic uncertainty. The bank’s statement described both men’s contributions as “instrumental” in driving growth and stability.
Standard Bank’s financial results for the first six months of 2025 reflected its resilience in a challenging economic climate. Headline earnings rose to 23.8 billion rand (about $1.36 billion), representing an 8% increase from the 22.0 billion rand recorded in the same period last year. The bank’s return on equity also improved, reaching 19.1% compared to 18.5% previously. This performance suggests that the bank is maintaining strong profitability while navigating slow economic growth in its key markets.
Following the announcement of both the retirement plan and the improved earnings, Standard Bank’s shares on the Johannesburg Stock Exchange climbed by about 3% by mid-morning on Thursday. Analysts say investor confidence remains high, with the market reacting positively to the clear succession timeline and strong financial results.
Under Tshabalala’s leadership, the bank has also pushed for greater integration across its African operations, building stronger regional networks and improving cross-border payment systems. The group’s digital transformation strategy has expanded mobile banking services, particularly in countries where access to physical bank branches remains limited.
Daehnke, on his part, has overseen several strategic capital-raising initiatives and guided the bank through periods of currency volatility and regulatory change. His financial discipline and risk management approach have been credited with helping Standard Bank maintain its position as a market leader.
Although no successors have been announced yet, the bank’s succession planning process is already underway. Industry observers expect the next leadership team to face both opportunities and challenges, especially with shifting global economic conditions, tighter regulatory requirements, and growing competition from fintech companies.
For now, Standard Bank appears well-positioned for continued growth. However, the coming leadership changes in 2027 will mark the end of an era for a bank that has been shaped by the steady hands of Sim Tshabalala and Arno Daehnke over the past decade. Their exit will close an important chapter in the institution’s history while opening the door to fresh perspectives for the future.
