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Standard Bank's David Munro announces step down

Standard Bank has announced that after 27 years of service, group executive, David Munro will be leaving.
Source: ISASA.
Source: ISASA.

His departure comes into effect as from March 2023.

“Munro has been – and will remain – a close friend and mentor to many. As I look back on his career at the group, I am really struck by his exceptional leadership skills and achievements – often under extraordinarily difficult circumstances, first during the global financial crisis and its aftermath and then during the pandemic," said Standard Bank group chief executive officer, Sim Tshabalala,

“Munro's remarkable leadership capacities were fully matched by the depth of his expertise in many aspects of financial services and by the breadth of his strategic vision.

"Since 2004, David has been as much a group executive as a business unit leader, and he has consistently been central to developing and executing the group’s purpose and strategy.”

Munro joined Standard Bank London as risk analyst in April 1996.

Standard Corporate and Merchant Bank in South Africa welcomed him into the fold two years later. He fulfilled this role for 19 years.

Munro worked in global markets, and project and structured finance before leading Corporate and Investment Banking in South Africa, first as deputy chief executive officer and then as chief executive, CIB SA.

Munro next led investment banking in CIB and became chief executive of CIB in 2011.

In 2017, he was made chief executive officer of Liberty Holdings.

In March 2022, Liberty became a wholly owned subsidiary of Standard Bank, and was delisted from the JSE.

In the role group executive of Standard Bank’s he led the integration of Liberty into the bank.

Munro is also known for the launching of business and industry bodies, most recently Association for Savings and Investment South Africa.

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