Pityana takes regulator to court over top Absa role
Leading business executive Sipho Pityana has taken the extraordinary step of taking the banking regulator to court, claiming that it acted unlawfully in effectively blocking his appointment as chair of Absa.
In papers filed on Monday, Pityana asks the high court to declare that the Prudential Authority unlawfully conducted an “informal process” with the boards of Absa Bank and Absa Holdings in connection with his nomination...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.
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