Standard Bank Group, Africa’s largest bank by assets, has appointed Thabani Ndwandwe as its new Group Chief Risk Officer (CRO), effective pending regulatory approval. Announced on September 8, 2025, Ndwandwe’s promotion to the Group Leadership Council, while retaining his role as CRO for Standard Bank of South Africa (SBSA), underscores the bank’s commitment to internal talent and robust risk management.
This move is part of a broader leadership transition, including David Hodnett’s appointment as SBSA CEO and Lungisa Fuzile’s confirmation as CEO for Africa Regions and Offshore. Group CEO Sim Tshabalala praised Ndwandwe’s “exemplary leadership” over his 20-year tenure, highlighting his expertise across diverse jurisdictions.
Ndwandwe, who joined Standard Bank in 2004, has built a formidable career in risk management, starting in credit analysis and rising to oversee risk for the Personal and Private Banking (PPB) segment. His leadership has been pivotal in implementing advanced analytics to mitigate consumer interest rate risks, especially amid South Africa’s high-inflation environment, where the prime rate peaked at 11.75% in 2023.
In a 2023 Business Day Spotlight interview, Ndwandwe emphasized supporting clients during economic downturns through financial education and tailored lending. His strategies have maintained the bank’s resilience, with headline earnings rising 9% to R45.3 billion in 2024.
As Group CRO, Ndwandwe will oversee enterprise-wide risk across Standard Bank’s R3 trillion asset base, spanning 20 countries and 40 million clients. His role is critical in navigating currency volatility, cyber threats, and ESG compliance, aligning with Basel IV standards. Analysts at Hypertext lauded his “deep institutional knowledge,” noting the bank’s preference for internal succession as a stabilizing force. Ndwandwe’s appointment also reflects Standard Bank’s commitment to diversity, aligning with B-BBEE principles in a sector pushing for inclusivity.
In a Moneyweb discussion, Ndwandwe credited his motivation to innovation and work-life balance, citing hobbies like reading and community involvement. His vision will shape Standard Bank’s 2025-2030 strategy, focusing on AI-driven risk modeling and green lending amid projected 3.5% GDP growth for South Africa in 2026. Tshabalala called the move a testament to the bank’s “significant leadership depth,” positioning Ndwandwe to ensure resilience and growth in a complex global landscape.