by SAVIOUS KWINIKA
JOHANNESBURG, (CAJ News) - FIRSTRAND Limited announced Jacques Celliers will succeed Michael Jordaan when he steps down as CEO of First National Bank at the end of the year.

Sizwe Nxasana, CEO of FirstRand, confirmed the appointment.

He paid tribute to the outgoing FNB boss, who has been at the helm for the past ten years.

He said Jordaan had overseen a period of significant business growth, innovation and profitability at FNB and was an individual with exceptional skills and experience.

"Michael's tenure at FNB has been incredibly successful. Much of which can be attributed to his passion for innovation which, backed up by his knowledge of the intersection of banking, technology and social media, has delivered strong growth and excellent returns for the Group and its shareholders," said Nxasana.

"I am confident that the FNB management team, under the leadership of Jacques will continue on its successful growth," said Nxasana.

Jordaan commented that while he was sad to be leaving, the bank was in great shape.

"Recently voted the most innovative bank in the world and with a clear leadership position in digital banking and innovative banking channels, FNB will continue with its successful strategy of generating new technologies and cost-effective products for our customers," he said.

Celliers (41) is a member of the FNB Executive Committee and currently the CEO of FNB Business Banking and head of FNB's Indian expansion.

"I am both humbled and excited to be offered this opportunity to take over from Michael who has left an incredible legacy of innovation and profitable growth," commented Celliers.