In a strategic leadership move, FirstRand has appointed Muneer Ismail as Group Executive: Corporate and Enterprise Banking, effective July 1, 2025. Ismail, the former CEO of HSBC South Africa, brings decades of banking experience and a strong track record of leading corporate financial services in both local and international markets.
Ismail will become a member of FirstRand’s Strategic Committee (Stratco) and report directly to Group CEO Mary Vilakazi.
Driving Integration Across Commercial and Corporate Segments
In his new role, Ismail will be tasked with driving FirstRand’s strategy to service commercial and corporate clients in a more integrated and streamlined manner. Currently, FirstRand’s enterprise banking segment—mainly serving medium-sized corporate clients—resides under FNB, while the corporate banking division falls under Rand Merchant Bank (RMB).
The bank believes that by enhancing synergies between these segments, it can significantly scale its corporate banking offerings. According to Vilakazi, the creation of this senior executive role underscores the group’s focus on better coordinating services across its banking entities to deliver greater value to clients.
“We are incredibly privileged to attract someone of Muneer’s calibre given his track record at HSBC and prior to that, his role as CEO at Deutsche Bank South Africa,” said Vilakazi.
“Muneer brings with him deep knowledge of the needs of medium and large corporates and multinational companies operating in South Africa and the broader African region.”
HSBC South Africa Exit Fuels New Integration Strategy
Ismail’s appointment also comes at a critical time, as FirstRand prepares for the integration of HSBC’s South African branch business, following HSBC’s decision to exit the country. Announced in September 2024, the deal includes the transfer of HSBC’s South African clients, banking assets, and liabilities to FirstRand Bank.
Ismail is expected to play a central role in ensuring a smooth client transition to RMB, helping unlock new opportunities for the group’s cross-segment integration strategy.
A Global Banker with Engineering Roots
Originally trained as an engineer, Muneer Ismail has built a distinguished career in financial services, with leadership positions at HSBC, Deutsche Bank, and other top-tier institutions. His expertise spans investment banking, corporate finance, and multinational client services, making him uniquely qualified to lead FirstRand’s evolving corporate and enterprise banking operations.
