Standard Bank which is Africa's largest bank by assets has named Sim Tshabalala as its first black chief executive after 4 years of sharing the role, the company said.

South Africa's financial sector, the economy's largest, is frequently criticized by politicians for a perceived lack of transformation & remains dominated by white executives 23 years after the end of apartheid.

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Standard Bank in 2013 chose Tshabalala & Ben Kruger as joint CEOs after long-time boss Jacko Maree stepped down.