Digital banking group TymeBank has appointed a new chief executive officer for South Africa, as it makes a move to expand into other markets. Coen Jonker, the co-founder of Tyme and TymeBank, takes over as TymeBank’s CEO in South Africa, effective 1 July 2022. Jonker has vast retail banking, fintech and deal-making experience and expertise both in South Africa and in several Asian markets.TymeBank’s current CEO, Tauriq Keraan, moves to group executive: growth projects, responsible for leading Tyme’s establishment in new territories as part of the group’s geographic diversification strategy.Jonker will focus on the recruitment of several new senior hires to support the bank’s growth trajectory, further transforming the bank’s leadership team and leading selected strategic acquisitions. Three will be a three-month handover period, the bank said. Other executive changes include David Pfaff, Tyme Group’s current CFO, who will take over from Jonker as Tyme Group CEO from 1 July. In his new role, Pfaff will move to Tyme Group’s head office in Singapore where he assumes responsibility for the group’s international growth strategy. Cheslyn Jacobs, who is currently responsible for TymeBank’s sales and service function, will be appointed chief commercial officer of TymeBank, accountable for revenue generation. The appointment takes effect from 1 June.TymeBank Chairman, Thabani Jali, noted that the bank has nearly five million customers, and is on course to break even in 2023. “We believe the time is right to redeploy key executives into positions that will let the group take advantage of opportunities that are opening up in new territories,” he said. “Tauriq has been instrumental in making TymeBank a South African success story, having assimilated a multitude of unique learnings in the shaping of the bank’s business model through the formative period of its lifecycle. He is, therefore, the ideal person to lead Tyme Group’s establishment in new territories and shape the customer experience across the group,” Jali said.The bank said it has started testing its banking platform in the Philippines and is preparing to launch its digital bank to the market in the second half of 2022.It has also applied for a digital banking licence in Pakistan, and if successful, will operate in a combined market size of approximately 400 million people, it said. Answer question below: Advise the new Tyme Bank CEO of the tasks that strategic leaders must fulfil when creating the integrated organisational system.

Principles Of Marketing
17th Edition
ISBN:9780134492513
Author:Kotler, Philip, Armstrong, Gary (gary M.)
Publisher:Kotler, Philip, Armstrong, Gary (gary M.)
Chapter1: Marketing: Creating Customer Value And Engagement
Section: Chapter Questions
Problem 1.1DQ
icon
Related questions
Question

Case study below:

Digital banking group TymeBank has appointed a new chief executive officer for South Africa, as it makes a move to expand into other markets. Coen Jonker, the co-founder of Tyme and TymeBank, takes over as TymeBank’s CEO in South Africa, effective 1 July 2022. Jonker has vast retail banking, fintech and deal-making experience and expertise both in South Africa and in several Asian markets.TymeBank’s current CEO, Tauriq Keraan, moves to group executive: growth projects, responsible for leading Tyme’s establishment in new territories as part of the group’s geographic diversification strategy.Jonker will focus on the recruitment of several new senior hires to support the bank’s growth trajectory, further transforming the bank’s leadership team and leading selected strategic acquisitions. Three will be a three-month handover period, the bank said. Other executive changes include David Pfaff, Tyme Group’s current CFO, who will take over from Jonker as Tyme Group CEO from 1 July. In his new role, Pfaff will move to Tyme Group’s head office in Singapore where he assumes responsibility for the group’s international growth strategy. Cheslyn Jacobs, who is currently responsible for TymeBank’s sales and service function, will be appointed chief commercial officer of TymeBank, accountable for revenue generation. The appointment takes effect from 1 June.TymeBank Chairman, Thabani Jali, noted that the bank has nearly five million customers, and is on course to break even in 2023. “We believe the time is right to redeploy key executives into positions that will let the group take advantage of opportunities that are opening up in new territories,” he said. “Tauriq has been instrumental in making TymeBank a South African success story, having assimilated a multitude of unique learnings in the shaping of the bank’s business model through the formative period of its lifecycle. He is, therefore, the ideal person to lead Tyme Group’s establishment in new territories and shape the customer experience across the group,” Jali said.The bank said it has started testing its banking platform in the Philippines and is preparing to launch its digital bank to the market in the second half of 2022.It has also applied for a digital banking licence in Pakistan, and if successful, will operate in a combined market size of approximately 400 million people, it said.

Answer question below:

Advise the new Tyme Bank CEO of the tasks that strategic leaders must fulfil when creating the integrated organisational system.

Expert Solution
steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Sales management
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, marketing and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Principles Of Marketing
Principles Of Marketing
Marketing
ISBN:
9780134492513
Author:
Kotler, Philip, Armstrong, Gary (gary M.)
Publisher:
Pearson Higher Education,
Marketing
Marketing
Marketing
ISBN:
9781259924040
Author:
Roger A. Kerin, Steven W. Hartley
Publisher:
McGraw-Hill Education
Foundations of Business (MindTap Course List)
Foundations of Business (MindTap Course List)
Marketing
ISBN:
9781337386920
Author:
William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:
Cengage Learning
Marketing: An Introduction (13th Edition)
Marketing: An Introduction (13th Edition)
Marketing
ISBN:
9780134149530
Author:
Gary Armstrong, Philip Kotler
Publisher:
PEARSON
MKTG 12:STUDENT ED.-TEXT
MKTG 12:STUDENT ED.-TEXT
Marketing
ISBN:
9781337407595
Author:
Lamb
Publisher:
Cengage
Contemporary Marketing
Contemporary Marketing
Marketing
ISBN:
9780357033777
Author:
Louis E. Boone, David L. Kurtz
Publisher:
Cengage Learning