Nedbank Namibia’s managing director, Bill Turton, has unexpectedly left his post, the Namibia Economist reports.
The bank is expected to make a formal announcement this week. Turton become the MD when the then MD Martin Shipanga left in similar circumstances.
Deputy MD Erastus Hoveka has taken over the reigns at the bank in an acting capacity. Hoveka joined the bank mid- this year from the Development Bank of Namibia where he was CFO.
Nedbank spokesman Pangwa Gabriel confirmed to the Economist Turton’s departure, but could not give much detail.
“I am out of the office at the moment but staff have been told that Turton will take up a position in Blantyre, Malawi,” says Gabriel.
In a separate notice, the Bankers Association of Namibia (BAN) said it had made changes in its leadership following Turton’s departure. The association has appointed James Hill, managing director of Bank Windhoek, as its new president.
Hill will take over the responsibility of Turton, managing director of Nedbank, due to the early departure of Turton to South Africa, the association says.