Listed South African banking group Absa (ASA) announced the appointment of Dr Steve Booysen as group chief executive effective from August 1.

Booysen, who is currently group executive director in charge of wholesale, international and business banking, succeeds Nallie Bosman, who is retiring from the group after 41 years of service.

Booysen, 41, has the qualifications BCompt (Hons), DCom, CA (SA) and joined the group in 1988.

After completing his articles with Ernst & Young (1980 - 1983), he became a senior lecturer in accounting at the University of South Africa (1983 - 1988).

His first appointment with Absa was as senior manager: Finance at TrustBank and he then held the position of assistant general manager: Finance from

1988 to 1992. From 1992 to 1994 he was assistant general manager: Group Finance at Absa.

Booysen then joined Absa Corporate Bank (later Absa Corporate and Merchant

Bank) where he held the positions of general manager and deputy operating executive. He was appointed as a group executive director in 2001.

I-Net Bridge 21 May 2004