The announcement made by the financial institution comes after Jason Quinn who held the position of financial director was appointed interim Group Chief Executive.
Commenting on his departure, the former CEO said: “It is indeed regrettable that we should have had to part ways so soon on our journey. It is, however, important for the chief executive to be in complete alignment with the board on critical issues such as strategy and culture. I became enamoured of the brave, passionate and ready people of Absa and wish the group well for the future.”
Commending Modise on her appointment, Absa Bank interim CEO said: “Punki is a highly skilled banking and financial management leader with years of experience at Absa and across the financial services sector.”
“Having worked closely with Punki over many years, I have first-hand experience of her outstanding strategic management skills, trademark enthusiasm, and efficiency. I look forward to the positive contribution she will make,” said Quinn.
Modise’s previous roles include Head: Transactional Banking, Chief of Staff: Retail Banking, and Chief Financial Officer: Distribution Channels.
Modise holds a BCom degree from the University of the Witwatersrand, as well as a Master’s Degree in Financial Management from the University of Johannesburg.