The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.

Tshabalala and Kruger: It takes two to transition at Standard Bank

When Standard Bank ran into trouble during its plans for emerging market domination, the board decided it would take two chief executives to wrap up its global business and bring the bank back to its African roots. How can two co-CEOs pull together for one cause?




Sim Tshabalala & Ben Kruger Standard Bank

  View more CEOs


When both Ben Kruger and Sim Tshabalala were promoted from deputy CEOs of Standard Bank Group to co-CEOs in March 2013, it was a joint appointment made out of necessity. The group had been working through some big changes – and there were still more to come. The board didn’t believe that a single chief executive would be able to lead the bank through the transition. 

“It became very clear, very quickly that the world was changing,” says Kruger in an interview with Euromoney at the group’s old head office in downtown Johannesburg. “We expected to reap the benefits of the huge growth we were seeing by building up our business in other emerging markets. It was a harsh realisation that this wasn’t going to be the case and we needed to change our strategy.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree