“In the two years I have been CEO of FNB, my focus has been on simplification — product, platform and structure,” stated Harry Kellan, who is set to step down as CEO of First National Bank (FNB) on April 1, 2026. Kellan’s leadership has been marked by significant changes aimed at streamlining operations within the bank.
Kellan, who took over the role in April 2024 after a decade as FirstRand’s group CFO, has announced his early retirement at the end of 2026, concluding a 22-year career with FirstRand. His tenure as CEO, though brief, was characterized by a strategic focus on simplifying the bank’s offerings and improving customer service.
Following Kellan’s departure, Lytania Johnson has been appointed as his successor. Johnson brings extensive experience to the role, having been with FNB for 25 years and leading its personal banking segment for the past three years. She expressed confidence in the new direction, stating, “This simplified structure will accelerate the bank’s ability to serve its customers better and offer these propositions in a focused and efficient manner to both existing and new to bank customers.”
What observers say
Mary Vilakazi, a notable figure in the banking sector, remarked, “Harry has done an excellent job to get the business to a point where it can embark on these changes with clear strategic objectives.” This sentiment reflects the broader acknowledgment of Kellan’s contributions to FNB during his time as CEO.
The leadership changes come at a time when FNB is undergoing a significant restructuring of its operating model. This new structure will replace the traditional retail and commercial segments with three distinct units: Retail Banking Business (RBB), private banking and wealth management, and commercial and corporate banking. The RBB segment will cater to entry-level to middle-income individuals and small to medium enterprises (SMEs) under Johnson’s leadership.
As FNB prepares for this transition, it has reported a robust performance, with its South African business delivering a 10% growth in pre-tax profits and increasing its return on equity to an impressive 41%. These figures indicate a strong foundation for the incoming leadership to build upon.
With all leadership changes set to take effect on April 1, 2026, and having received regulatory approval, the banking community is keenly observing how these developments will unfold. Kellan’s departure marks the end of an era, while Johnson’s appointment signals a new chapter for FNB as it aims to enhance its service offerings and operational efficiency.
