Absa Group Limited, the South African financial services group, has appointed independent non-executive director Brian Kennedy to its Remuneration Committee, strengthening the board committee’s membership as the lender continues its governance oversight.

The appointment will take effect on November 1, 2026, according to a regulatory notice issued by Absa Group on Wednesday, October 28. The announcement was made in accordance with the Johannesburg Stock Exchange’s Equity Listings Requirements and Debt and Specialist Securities Listings Requirements.

Brian Kennedy, who joined the Absa Group board as an independent non-executive director on February 1, 2026, already serves on several key board committees, including as chairman of the Group Credit Risk Committee.

Kennedy adds wholesale banking experience

Brian Kennedy brings 32 years of experience across wholesale banking, covering debt and equity capital markets, corporate banking, private equity, transactional banking and payments, commercial property finance, and mergers and acquisitions.

He previously served as group managing executive for Nedbank Corporate and Investment Banking from 2015 to 2020, overseeing activities across a broad range of corporate and institutional financial services.

His experience spans multiple areas of banking and financial markets, providing relevant expertise for board-level discussions on executive remuneration, performance and governance. However, Absa’s announcement did not specify the reasons for his appointment or outline any changes to the committee’s responsibilities.

Existing board responsibilities

Before joining the Remuneration Committee, Kennedy served as chairman of Absa’s Group Credit Risk Committee and as a member of the Group Risk and Capital Management Committee and Information Technology Committee.

These roles place him across several areas of board oversight, including credit risk, capital management and technology. His appointment to the Remuneration Committee adds another responsibility to his existing portfolio of board duties.

Brian Kennedy also serves as a non-executive director of Telkom Limited, the South African telecommunications group, and African Rainbow Minerals Limited, the diversified mining company. He stepped down from the boards of Afrisam and Ecobank Transnational when he joined Absa Group.

Engineering and business qualifications

Kennedy holds a Bachelor of Science in Electrical Engineering, a Master of Science in Engineering and a Master of Business Administration from the University of the Witwatersrand.

His technical and business qualifications complement his experience in corporate and investment banking, where financial, operational and strategic considerations often intersect.

The appointment comes as part of Absa Group’s board committee arrangements, with the effective date set for November 1. The company’s notice did not disclose any other committee changes or provide further details about the Remuneration Committee’s current membership.