ubank Appoints Seasoned Banker as New Chief Executive Officer

Ubank is proud to announce the appointment of our new Chief Executive Officer, Mr Luthando Vutula, who officially commenced his duties on 1 November 2012. Mr De Villiers Botha, Chairman of the Ubank Board welcomed Mr Vutula and said ?The Ubank Board is confident that Mr Vutula has the vision, experience and drive to take Ubank to the next level and grow the bank to be the ?workers? bank of choice?. As this is a regulatory position, it was important that the right candidate be appointed.?
His experience in retail banking is wide-ranging. Prior to joining Ubank, Mr Vutula served as the Head: Sectors for ABSA?s Retail and Business Bank. Key to this position was the development, implementation and management of policy regarding strategic direction, marketing, finance, capital expenditure, risk, human resources and IT. In addition to this, he has held several executive leadership positions in both the private and public spheres including:

  • Managing Executive – Absa Home Loans
  • Managing Director – Absa Development Company
  • Executive – National Housing Finance Corporation (NHFC)

Over the years, he has played a prominent role in the banking sector at a strategic policy level and is well-respected at key decision-making levels. He has worked closely with the National Department of Housing, National Treasury and representatives from business and labour, in the creation of long-term sustainable strategies.
In addition to all of the above, Mr Vutula has also held the following Board and Honorary Appointments:

  • Non-Executive Chairman – Johannesburg Development Agency
  • Non-Executive Chairman – Free State Social Housing Company
  • Non-Executive Chairman – Tshwane Economic Development Agency
  • Non-Executive Chairman ? Ekurhuleni Development Agency

His qualifications include:

  • Banking and Finance Programme ? INSEAD (France)
  • Masters Degree in Development Finance ? University of Stellenbosch
  • Bachelor of Business Administration (Hons) ? University of Stellenbosch
  • Bachelor of Economics and Accounting ? University of Botswana
  • International Housing Finance Programme ? University of Pennsylvania, Wharton Business
  • School

?I am excited and delighted to join Ubank and am looking forward to making a meaningful contribution. Ubank has a unique opportunity to be the ?Bank of choice? for workers and communities in South Africa. I acknowledge the challenging environment we operate in, but are confident that our approach of building strong relationships with our customers and stakeholders will stand us in good stead going forward. We will continue to build on this strength in the months ahead, ?stated Mr Vutula.
With Mr Vutula at the helm, the Ubank leadership team will be focused and geared to serve the communities in which we operate. Ubank is also completing the appointment of a new Chief Financial Officer and further announcement will be made in this regard, in the near future.

Note to Editors:

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