South African banker Jason Quinn-led Nedbank settles $34.8 million dispute
Jason Quinn-led Nedbank agrees to pay $34.8 million to Transnet, ending a year-long legal dispute while supporting growth in Africa.
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Jason Quinn-led Nedbank agrees to pay $34.8 million to Transnet, ending a year-long legal dispute while supporting growth in Africa.
The South African bank confirmed that the stake, classified under IFRS 5 as a non-current asset held for sale, has a market value of R1.9 billion ($105.8 million).
The salary reflects his leadership in driving the bank’s growth, strengthening its market position, and navigating an evolving financial landscape.
South African financial giant, Nedbank, targets fourfold profit growth from African markets by 2029.
Given Quinn’s performance at Absa Group, he emerged as the ideal candidate to succeed Mike Brown at Nedbank Group.
Quinn joins Nedbank from Absa Group, where he served as the financial director of both Absa Group and Absa Bank.
Quinn also owns a minority stake of 0.012 percent, amounting to 99,814 shares in the financial services giant.
The issued dividend reflects the group’s strong financial performance at the conclusion of its 2021 fiscal year.