The Nedbank Group and Nedbank Boards have appointed South African banker Jason Quinn as the chief executive designate, succeeding Mike Brown — this announcement which is subject to regulatory approval follows the succession process announced on June 2.
Quinn, a leading business executive and multimillionaire banker — with a degree in accounting and a Chartered Accountant qualification — joins Nedbank from Absa Group, where he served as the Financial Director of both Absa Group and Absa Bank.
From Absa to Nedbank — Jason Quinn’s executive leadership journey
His tenure at Absa spanned from 2008, with roles in the Group and the Retail and Business Bank. Quinn also served as the Interim Group CEO of Absa from April 2021 to March 2022 — taking over after Absa’s first Black CEO Daniel Mminele left the bank due to a misalignment between the board and Mminele on strategy and management decisions.
Upon completing his notice period with Absa Group, Quinn, 49, will assume the role of Chief Executive Officer (CEO) on Mike Brown’s planned retirement from the Boards at the close of the Nedbank Group annual general meeting, scheduled for May 31, 2024.
Nedbank acknowledges Mike Brown’s legacy, welcomes Jason Quinn
Nedbank Group Chairperson, Daniel Mminele, lauded Mike Brown’s contributions as CEO since 2010 and earlier as CFO from 2004. Mminele highlighted Brown’s leadership during the COVID-19 period, resulting in the prestigious Sunday Times Business Leader of the Year award in 2020 — Brown’s legacy includes championing diversity and inclusion, achieving Level 1 BBBEE ratings for the last five years, and successfully leading the separation from Old Mutual in 2018.
In light of Quinn’s appointment, Mminele said: “The board is delighted to have secured the services of an experienced leader of the caliber of Jason with a proven track record in banking in South Africa and other parts of the African continent to build upon Mike Brown’s legacy.”
Jason Quinn commits to strengthening group foundations and driving stakeholder value
Quinn, in reaction to his appointment, expressed excitement about the opportunity to work with the Nedbank team. He said, “I am excited about the opportunity to work with the Board, leadership team, and colleagues at Nedbank to build on the Group’s strong foundations.”
“I have been encouraged by my interactions with the Board, and the leadership culture and purpose statement resonate strongly with me. I intend to build on those and the strategy, with the team, to deliver strong stakeholder value creation,” he added.