More Black CEOs coming onboard

FNB appointment two new CEOs for its divisions, Home Loans headed by Marius Marais (right) and Housing Finance headed by Lee Mhlongo (left), making him the first black head of the division.

Banking group, First National Bank (FNB) recently announced the appointment of two new CEOs for its home loans and housing finance divisions — with the first black CEO heading the housing finance.

Marius Marais, having held various roles within FNB and previously the role of CEO FNB Housing Finance, has become the new CEO for Home Loans.

Taking over the Housing Finance from Marais, Lee Mhlongo has been named as Housing Finance CEO, making him the first black head of the division.

Marais, started Housing Finance as a new business in 2002 and reached the business goal of over 100 000 units financed and a R14 billion loan book within 10 years. He also ensured FNB delivered alternative building and green technologies to the affordable housing market.

Mhlongo has been with the bank since 2004, holding numerous positions in Retail Banking, FNB Insurance and RMB Private Bank.

“The new role as CEO FNB Homeloans will allow me the opportunity to exert both my financial services experience and ten year experience gained within the Housing Finance business and property sector,” says Marais.

“Heading the Housing Finance division is a new and exciting challenge for me. The business is innovative and growing from strength to strength. There is lots of potential in this market and I am looking forward to the opportunities this position brings,” concludes Mhlongo.

Marais holds a Masters in Business Leadership as well as a BCompt from the University of South Africa.

Mhlongo holds a BSc Actuarial Science and Mathematics from the University of Witwatersrand.