Barclays Africa names Matlare deputy chief

Peter Matlare. File picture: Leon Nicholas

Peter Matlare. File picture: Leon Nicholas

Published Jul 4, 2016

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Johannesburg - Barclays Africa Group appointed Peter Matlare as deputy chief executive and said investment banking head Stephen van Coller would leave as South Africa’s third-largest lender made changes to its top management structure.

Read also: Matlare takes key slot in Barclays Africa

Matlare, the former chief executive of Tiger Brands, would be responsible for Barclays Africa’s operations outside its home market, while David Hodnett would continue in his role as deputy chief executive, focusing on South Africa, the company said on Friday.

Van Coller, who had been at Barclays Africa since 2006, would quit the industry when he left the company at the end of September, a spokeswoman for the lender said, declining to be identified.

At Tiger Brands, Matlare presided over a decline in full- year net income and a write-down in the value of the company’s Nigerian milling unit. He resigned from the maker of All Gold tomato sauce and Black Cat peanut butter last year. Matlare had been a non-executive director of Barclays Africa since December 2011, the company said.

The moves come as Barclays Africa’s London-based parent gradually sells down its holding in Absa, reducing its stake to 50.1 percent earlier this year, to conserve capital.

Ex-Barclays chief executive Bob Diamond said in April he and investors including US private-equity giant Carlyle Group were working on a potential bid for the bank, while Dubai-based Abraaj Group was also planning an offer, sources familiar with the matter said in May. The Public Investment Corporation has said it would pull together a group of black investors to buy a stake to ensure the bank came back under the control of South Africans.

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