Interbank payments provider BankservAfrica has appointed Stephen Linnell as its new CEO, replacing Jan Pilbauer, who left the organisation in April. BankservAfrica, which plays an integral role in the smooth functioning of South Africa’s economy, and which led the recent launch of PayShap, South Africa’s digital rapid payments platform, said Linnell will take the reins on 1 October.

“Stephen’s credentials as a dynamic executive across a wide range of disciplines is impeccable,” BankservAfrica board chairman Teddy Daka said in a statement on Monday.

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“His passion for the development of financial market infrastructure is evident and we are confident of Stephen’s expertise and ability to lead BankservAfrica in its journey towards the envisioned platform future state.”

Linnell was previously both chief operating officer and chief information officer for global markets at Rand Merchant Bank. He also has experience leading wholesale securities and payments businesses for both RMB and Absa, and has held board level positions at other financial markets infrastructure providers.

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On Pilbauer’s exit, BankservAfrica said: “Jan played a pivotal role in transitioning BankservAfrica to be recognised as an influential force in the industry through the delivery of PayShap, and in steering the organisation’s vision towards its modernised, future state.”

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry