FirstRand restructures FNB leadership and segment model as Harry Kellan takes early retirement

Lytania Johnson will lead both FNB and a newly configured retail and business banking segment, while the commercial and private banking units are separated into standalone structures

FirstRand has announced a series of leadership and structural changes within its banking operations, effective 1 April 2026, following regulatory approval. Lytania Johnson will become CEO of FNB and take on the additional role of CEO of a newly formed retail and business banking segment, replacing the existing retail and commercial construct.

Harry Kellan, who has held the FNB CEO role since April 2024, will step down and take early retirement at the end of 2026. Kellan joined FirstRand 22 years ago and served as group chief financial officer for a decade before moving into the CEO role. He took over from Jacques Celliers in 2024.

The structural change separates functions that were previously grouped under a single retail and commercial segment. The new retail and business banking segment will serve individual customers across income levels as well as small and medium-sized businesses. A standalone private banking and wealth management segment will sit alongside it, continuing under Sizwe Nxedlana, who has led that unit since 2023. Enterprise and public sector clients within the commercial division will move into the commercial and corporate bank run by Muneer Ismail.

Kellan described the restructuring as the outcome of work he initiated to reduce operational complexity within the bank. "The reconfiguration of the retail and commercial segment model is the next step required for the business to be even more agile and responsive to customer needs. I have every confidence in the new leadership team," he said.

Johnson has been with FNB for 25 years, most recently serving as CEO of the personal segment for three years. She said the simplified structure was intended to improve how the bank serves customers whose personal and business financial needs overlap. "By bringing together retail and business banking, we can better serve entrepreneurs, small businesses and households who require solutions that can cover their personal and business needs," she said.

In a separate appointment, Gert Kruger moves from group chief risk officer, a role he has held since 2017, to the newly created position of group chief operating officer. Emma Mer, previously the chief risk officer of the retail and commercial segment, will succeed Kruger as group CRO.

FirstRand CEO Mary Vilakazi said FNB's recent financial performance supported the timing of the changes, noting that the South African business delivered 10% growth in pretax profits and an overall return on equity of 41% for the FNB franchise.