Michael Jordaan to step down at FNB?

The tech-savvy CEO is said to be leaving First National Bank at the end of this year. By Craig Wilson.

Added by Craig Wilson on 25 January 2013.
Saved under News, Top
Tags: , , , ,
Michael Jordaan

Michael Jordaan

First National Bank CEO Michael Jordaan may be planning to leave the bank at the end of the year, according to a report. The 44-year-old has been CEO since 2004 and has been instrumental in driving its digital strategy, including the development of mobile banking applications and its drive to get consumers to use digital channels by subsidising smartphones and tablet computers.

Moneyweb reported on Friday that two sources close to the bank had told the financial news website that Jordaan was planning to step down. According to the report, Jordaan has communicated his intention to step down prior to the furore this week over the bank’s controversial television advertising campaign, which drew a sharp reaction from the ruling ANC. FNB reportedly apologised to the ANC for the campaign at a meeting on Friday.

On Friday evening, Jordaan tweeted: “I am not resigning as CEO [of] the most innovative bank in the world”.

FNB has declined to comment on the speculation, saying any changes in senior management and succession planning would be managed through FNB parent FirstRand and done according to its governance processes.

With Jordaan at the helm, FNB recently won the BAI-Finacle Global Banking Award for most innovative bank worldwide. The bank also won all of the major awards at MTN’s App of the Year event in 2012 for its mobile banking application.

FNB was the first bank to launch a mobile banking app for South African consumers. Jordaan was also instrumental in the launch of the bank’s eBucks rewards programme in the late 1990s. FNB was also the first South African bank to offer access to PayPal.

The bank has continued to launch various innovative products, including its GeoPay service, which allows consumers to make proximity-based payments to one another and doesn’t require that both parties be customers of the bank. Non-customers can withdraw the funds from FNB ATMs.

Jordaan, a devoted Twitter user and technophile, owns and manages a wine farm with his wife.

In 2011, Jordaan made TechCentral’s top five list of the newsmakers of the year for his social media presence, the smartphone app and the bank’s discounted phones and tablets and free fixed-line and 3G broadband offers.  — (c) 2013 NewsCentral Media

Share this article

  • http://www.facebook.com/people/Arno-Van-Der-Walt/619381360 Arno Van Der Walt

    What an inspirational Ceo. It would be a great loss to Fnb.

  • Peter

    Indeed would be huge loss! Who in his place? Another BEE/ politically connected candidate who will bring to a stand well oiled machine….?

Why TechCentral?

We know that as a prospective advertiser, you are spoilt for choice. Our job is to demonstrate why TechCentral delivers the best return for your advertising spend.

TechCentral is South Africa’s online technology news leader. We don’t say that lightly. We believe we produce the country’s best and most insightful online tech news aimed at industry professionals and those interested in the fast-changing world of technology.

We provide news, reviews and comment, without fear or favour, that is of direct relevance to our fast-expanding audience. Proportionately, we provide the largest local audience of all technology-focused online publishers.

We do not constantly regurgitate press releases to draw in search engine traffic — we believe websites that do so are doing their readers and advertisers a disservice. Nor do we sell “editorial features”, offer advertising “press offices” or rely on online bulletin-board forums of questionable value to advertisers to bolster our traffic.

TechCentral, which is edited and written by award-winning South African journalists, cares about delivering top-quality content to draw in the business and consumer readers that are of most interest to technology advertisers.

We’d like the opportunity to demonstrate the value of directing a portion of your advertising budget to TechCentral, whether your company is in the technology field or not. Numerous opportunities exist for companies interested in reaching our audience of key decision-makers in South Africa’s dynamic information and communications technology sector. We offer packages that will deliver among the best returns on investment available in the online technology news space.

For more information about advertising opportunities, and how your organisation can benefit by publicising itself on TechCentral, please call us on 011-792-0449 during office hours. Or send us an e-mail and ask for our latest rate card and brochure.