Standard Bank Mozambique replaces Managing Director Bernardo Aparício

Standard Bank Mozambique has announced the departure of Bernardo Aparício from his position as Managing Director, effective September 23, 2023. The bank's Board of Directors made the decision, though the specific reasons for his exit were not disclosed.

Agnaldo Mavera, currently an Executive Director and Chief Operating Officer, has been appointed to lead the institution on an interim basis until a permanent successor is chosen. Mavera's appointment is intended to ensure management continuity, as he is already deeply integrated into the bank's administrative and financial structures.

Aparício had held the leadership role since April 2022, a period characterized by efforts to restore institutional stability and implement corrective measures following previous regulatory sanctions from the Bank of Mozambique. Under his tenure, the bank worked to regain access to the interbank foreign exchange market and improve internal governance.