Johannesburg — ABSA Group, which has surprised the market with a number of boardroom changes recently, yesterday said Stephen van Coller, previously the deputy CE, had been appointed CE of Absa Capital.

John Vitalo, the previous CE of Absa Capital, "has agreed to continue his involvement with Absa as a special adviser to the group CE", Maria Ramos, Absa said yesterday. He will be part of Barclays Capital's management team managing its African operations. Absa is 55,6% owned by UK-based Barclays.

Van Coller takes over from Vitalo on Thursday.

Vitalo has been responsible for Wealth in SA since last year and has been CE of Absa Capital since 2005, having joined from Barclays Capital.

Vitalo also retains his role as CE of Barclays Investment Banking and Investment Management for the Middle East and North Africa after his appointment in May .

"As one of the leading investment banks in sub- Saharan Africa, Absa Capital is an ongoing high priority for Absa Group and Barclays," said Ramos.

Some recent top management changes include Absa's financial director, Jacques Schindehutte, who this month announced he was resigning from March 1 next year, and the appointment of a deputy CEO, Louis von Zeuner.