Nedbank Group chief operating officer Mfundo Nkuhlu is set to retire at the end of the year after more than two decades with the banking group. Nkuhlu, who is also an executive director of Nedbank Group and Nedbank, which has a market capitalisation of R133-billion, has elected to take early retirement after reaching the age of 60. Nkuhlu joined Nedbank in April 2004 as managing executive of Nedbank Africa; he later served as managing executive of Corporate Banking and Nedbank Corporate before becoming chief operating officer and executive director in January 2015. During his more than 22 years at Nedbank, Nkuhlu played a key role in the group’s strategy, operations and growth. Before joining Nedbank, Nkuhlu held senior positions at the South African Revenue Service and the Department of Trade and Industry.