New Discovery Bank CEO appointed

Discovery has announced the appointment of Hylton Kallner as the new chief executive officer of Discovery Bank and Discovery Bank Holdings, effective from 1 January 2021.

Kallner replaces Barry Hore who oversaw the bank as it completed its ‘build and migration’ phase.

“These include the build of the bank‘s powerful digital banking capability based on the shared-value model, the creation of world-class banking products and the successful migration of all Discovery Card accounts from FirstRand Bank Limited to Discovery Bank,” Discovery said.

Now over a year into operations, Discovery said that its bank has reported strong growth with over 500,000 accounts and R5 billion in retail deposits.

“In taking over from Barry, Hylton will leverage his experience as chief executive of the South African businesses of Discovery in building a powerful and integrated composite,” said Discovery chief executive Adrian Gore.

“His experience in the conceptualisation and operation of the original Discovery Card and more recently overseeing the provision of core group services to Discovery Bank, add to the competencies gained in his decade as the group’s chief marketing officer.”

Gore said that Kallner will step down from various subsidiary boards but will retain his role as chair of the Discovery South Africa executive committee as the key co-ordination structure across the group’s South African composite.

“This will enable him to leverage assets across the group as the bank focuses on driving strong, high-quality customer growth and value,” said Gore.

This article first appeared on BusinessTech and is republished with permission.

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New Discovery Bank CEO appointed