FINANCIAL services giant, CBZ Holdings Limited (CBZ) has appointed Lawrence Nyazema as its substantive group chief executive officer (CEO) with the effect of April 19, 2024.
Before being officially appointed, Nyazema had been acting CBZ CEO since December 1, 2023, after the group’s former chief executive officer, Blessing Mudavanhu resigned.
The announcement of Nyazema’s appointment comes a day after CBZ appointed, Lexon Zembe, as its substantive chairman, who also had previously served in the role in an acting capacity.
In a statement on Wednesday, CBZ said Nyazema started his career at ZB Financial Holdings in 1990, meaning that he is a very experienced banker.
“The board wishes to advise of the appointment of Mr Lawrence Nyazema to the position of group chief executive officer of CBZ Holdings Limited (the company) with effect from April 19, 2024. He has been acting group chief executive officer of the company since 1 December 2023,” CBZ said.
“Before his appointment as acting group chief executive officer, Lawrence was the managing director of CBZ Bank Limited, a position he took up on January 1, 2022 having joined the bank as executive director — wholesale banking in January 2020.”
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CBZ said prior to that, he spent 19 years with Barclays Bank (now First Capital Bank) in various capacities, including that of commercial director from April 2011 to December 2019 and treasurer from July 2007 to March 2011.
“His career started at ZB Financial Holdings spanning from 1990 to the year 2000, where he occupied various positions starting off as an analyst to senior Treasury dealer by the time he left,” CBZ stated.
“Lawrence holds a Bachelor of Science in Business Management (Management College of Southern Africa), Master of Science in Finance (University of London) and Diplomas in Banking from the Institute of Bankers South Africa & Zimbabwe. Lawrence also serves as the current President of the Bankers Association of Zimbabwe.”
Nyazema’s appointment comes as CBZ is in the process of acquiring ZB Financial Holdings Limited, after it bought First Mutual Holdings Limited, as it seeks to strengthen its balance sheet to attract external capital.