Banking CIO Stephen Linnell appointed as BankservAfrica new CEO


Stephen moves from the position of CIO to that of CEO.

BankservAfrica has appointed Stephen Linnell as chief executive officer, effective 1 October 2023. Prior to joining BankservAfrica, Stephan was chief operating officer and chief information officer at Rand Merchant Bank.

Stephen has extensive experience in the financial services industry, having spent a decade with Barclays in senior positions such as chief operating officer for prime services and equities and head of futures execution and clearings, despite his most recent role being an IT function.

“Stephen’s credentials as a dynamic executive across a wide range of disciplines are impeccable. His passion for the development of financial market infrastructure is evident and we are confident of his expertise and ability to lead BankservAfrica in its journey towards the envisioned platform future state,” says Teddy Daka, chairperson of the board of directors at BankservAfrica.

“It is a great privilege to become part of a brand that, for five decades, has been at the forefront of driving efficiency and fostering payment interoperability within the financial ecosystem,” says Stephen. “As BankservAfrica continues to expand on services for its existing customers, and connect with new ones across the continent, we must recognise the dynamic nature of the landscape we operate in.

“To remain relevant and impactful in this context, our commitment to innovation and adaptability will serve as a foundation. Throughout this transformative journey, we will remain committed to our fiduciary mandate and to preserving the trust of our stakeholders.”

Stephen holds a bachelor’s degree (with honours) in economics and computer information systems from the University of Cape Town.

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