Nedbank Group has announced changes in its top leadership as two officials are due to retire.
Concurrent with the strategic reorganisation of the group’s Retail and Business Banking and Nedbank Wealth clusters, Iolanda Ruggiero, managing executive for Nedbank Wealth, will be taking early retirement after 23 years of service, the group said in a statement on Tuesday.
Ruggiero has led the SA and International Nedbank Private Wealth, Wealth Management, Asset Management and Insurance businesses since 2015 and will be working with Nedbank’s senior leadership to manage an orderly transition in advance of her retirement at the end of March.
Daleen du Toit, group chief compliance officer (CCO), has reached the mandatory retirement age and will retire on May 16 after 10 years at Nedbank.
She has been CCO since 2022 and before that she was part of the Nedbank Group Compliance executive team.
Nomonde Hlongwa has been appointed Du Toit’s successor. Hlongwa’s appointment as CCO and to the group executive committee takes place with effect from April 16.
Hlongwa is an admitted attorney with 18 years of experience in the financial services sector. She is currently the CCO for business and commercial banking at Standard Bank, and has significant industry-wide experience in legal, risk and compliance management.
She has worked across several African markets over the past 10 years, spanning multiple geographies, Nedbank said.
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