Absa Bank appoints Punki Modise as interim financial director

SOUTH AFRICA – Financial services group Absa has appointed Punki Modise as an interim financial director and as an executive director on the boards of Absa bank.

The announcement made by the financial institution comes after Jason Quinn who held the position of financial director was appointed interim Group Chief Executive.

Quinn replaced Daniel Mminele who stepped down due to ’divergent professional views and approaches’ with Absa board.

Commenting on his departure, the former CEO said: “It is indeed regrettable that we should have had to part ways so soon on our journey. It is, however, important for the chief executive to be in complete alignment with the board on critical issues such as strategy and culture. I became enamoured of the brave, passionate and ready people of Absa and wish the group well for the future.”

Commending Modise on her appointment, Absa Bank interim CEO said: “Punki is a highly skilled banking and financial management leader with years of experience at Absa and across the financial services sector.”

Modise, who joined Absa in 2008, according to Quinn, has played an instrumental role in leading the institution through its “key” strategic journeys.

The bank said as Retail and Business Banking (RBB) CFO, Modise was instrumental in the development and execution of the current RBB strategy launched in 2018.

“Having worked closely with Punki over many years, I have first-hand experience of her outstanding strategic management skills, trademark enthusiasm, and efficiency. I look forward to the positive contribution she will make,” said Quinn.

Modise’s previous roles include Head: Transactional Banking, Chief of Staff: Retail Banking, and Chief Financial Officer: Distribution Channels.

Before joining Absa, Modise held positions at Standard Bank and Fedsure, having completed her articles at PricewaterhouseCoopers Inc.

Modise holds a BCom degree from the University of the Witwatersrand, as well as a Master’s Degree in Financial Management from the University of Johannesburg.

She is a qualified Chartered Accountant of South Africa.

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