Fast-growing Absa Group promotes banking and investment lawyer Francisco Khoza to Group General Counsel

Newly promoted Group General Counsel Francisco Khoza brings extensive legal, governance, and leadership experience across the banking and financial services sector to his new role leading Absa Group’s legal function, said the large Johannesburg-headquartered African financial services conglomerate today.

Khoza rejoined Absa Group earlier this year as Deputy Group General Counsel, having spent the past several years as Head of Corporate and Investment Banking at Standard Bank Group in Johannesburg. “In his role as the Absa Group General Counsel, Francisco will lead the legal team, support the Absa Group Exco and Board, and partner closely with business and functional leaders across the Bank to advance its strategic priorities, strengthen governance and risk management, and enable sustainable growth across its pan-African operations,” said the Bank today.

Khoza’s appointment follows significant growth for Absa Group in South Africa under new CEO Kenny Fihla, also a former executive at Standard Bank, over the past year.

Today, Absa Group also announced it has taken over as the custodian of South Africa’s Government Employees’ Pension Fund (GEPF) from Standard Bank after 30 years. The GEPF is Africa’s largest pension fund, managing more than R3.5 trillion (about $218 billion) in assets. Absa Group won the new Master Custodian contract in a competitive process, with the transfer of duties reportedly taking effect this month. ABSA Group will safeguard investment assets, handle settlements, manage investment-related cash, provide reporting, and support fund governance.

Khoza originally joined Absa Group in mid 2017, serving as General Counsel of Absa Wealth and Investment Management, having moved in-house at that point after practising as a partner and the head of the Banking and Finance Department at Bowmans for several years. Repeatedly ranked as an investment funds lawyer while in private practice, earlier in his career Khoza also worked at Linklaters in London.

A leading pan-African bank, committed to a pan-African presence and contribution, Absa Group currently operates in 15 nations across the continent, and also has international offices in the United Kingdom, China, and the United States.