Human rights icons
such as Albie Sachs and Dulla Omar shaped the early career choices of Yasmin
Masithela, the Managing Executive of Transactional Banking at Absa Corporate
and Investment Banking. These human rights lawyers inspired her to pursue a
career in law spurred by hope to have impact on the South African society.



Masithela chose Corporate Law and after graduating and went into private practice with Webber Wentzel Attorneys and later an Associate at Siemens in the Project and Export Finance Division. The lure of being able to self-determine would soon become great, and Masithela joined forces with professional friends to form their own law practice. 



She became a founding partner at Phukubje Pierce &amp; Masithela Attorneys, where among other roles, Masithela was Head of Mergers, Acquisitions and Project Finance.  The young and aspiring firm was idyllic and passionate about making a difference, but collectively they had little experience as entrepreneurs at the time. 



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The fine balance between survival and aspiration that most entrepreneurs struggle with quickly became their reality, topped off with the common start-up challenge of having to wear multiple hats and struggling to break through in a traditional professional services industry. 



“At the time we
were idealistic – all we wanted to do was support our clients to protect their
businesses and to grow,” she says, “only to find ourselves bogged down in
multiple other mundane tasks and responsibilities necessary to keep the lights
on. It was a constant roller coaster of highs and lows, feast and famine. I
learned a lot that is permanently emblazoned in my mind – small business owners
need a more supportive tax regime and help with managing cash flow and
establishing structure that allows them to be viable.”



Masithela took the
difficult decision to leave the partnership and go back into the corporate
space. Some of her partners chose to stay in the business and they have fared
very well.



Masithela’s stint
as a free agent was short lived – she subsequently entered the corporate sector
again and joined Absa in 2011. At Absa, she rose through the executive ranks,
occupying various key roles as General Counsel and Head of Compliance for the
Wealth, Investment Management and Insurance business before her appointment to
the Absa’s Group Executive Committee as the Chief Compliance Officer in 2014. 



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In 2018 she took
on an expanded role as the Chief Executive for Group Strategic Services – a
portfolio that drove the group’s strategy including digital strategy, as well
as the Human Resources and Culture agenda of the enterprise. The role allowed Masithela
to play a key role in embedding the group’s new strategy and a renewed focus on
its corporate culture under the new brand. 



In March 2019 she took
on a new challenge to run a substantial P&amp;L as the Managing Executive for
Transactional Banking within Absa’s Corporate and Investment Bank (CIB)
business.



Masithela admits the transition from a specialist lawyer to a “generalist leader” is never an easy one, but emphasizes that this is what enterprise leadership requires – specialists who turn into generalists, with the ability to translate the vision of the group and lead many colleagues and other specialists into executing and delivering the vision. That said, generalists still must know enough about all facets of their business in order to run the business. 



<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">“I think analytical skills and system thinking is a natural by-product of being trained in Law, and in a large way eased my journey. There is also a lot to be said about leaning into opportunity, owning your seat at the table and being very deliberate about it,” she says.</blockquote>



She relishes the opportunity to provide strategic input and support to the overall Absa CIB business under the leadership of Chief Executive Charles Russon. “CIB’s strategy is grounded on growing primacy, which has a large dependency on the business I am responsible for,” Masithela explains. 



“Transformation
and Innovation are also critical for the bank as both our corporate and retail
customers rapidly adopt digital technology. I am fascinated by and focused on
our digital strategy, and with keeping up with global trends in corporate
banking. We see a big transition for our industry to being customer-led and I
am excited about the role I can play in this space within the CIB footprint and
across the continent,” she says. 



Like many in the industry,
Masithela is concerned about the current tough economic environment in South
Africa which is the bank’s largest market. There are strong economic headwinds
across the African continent in the markets where Absa operates, but she sees
opportunities even in this uncertain environment, by focusing on customer
centricity using what she describes as “a clear pragmatic, service oriented
approach” to drive growth in Transactional Banking.



&nbsp;“Transactional
banking is about transforming our client’s business through products and
platforms of the bank that interact seamlessly with their business in order to
help them operate with flexibility across their value chains, and to grow. That
is Absa’s strength. Our strong presence across the continent helps facilitate
the growth ambition of many of our clients, and indeed we often even help
ignite those ambitions in some cases,” Masithela says.



Outside of work, the proud mother of three says time spent with her children grounds her and is a deep sense of comfort. Masithela enjoys other personal pursuits such as long-distance running, swimming and reading. 



<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">“When we were growing up, my parents kept the entire series of Encyclopaedia Britannica proudly displayed in the living room – that was our google back then. We were not allowed to say you didn’t know how to find the answer to anything – you go look it up! </blockquote>



This probably
explains how I ended up going to law school where before the advent of digital
research, we spent hundreds of hours scouring over journals and precedents.
Today my reading tastes vary from cook books to autobiographies and science
fiction.” 



Travel is a
passion she has grown to enjoy, and which gives her the opportunity to sample
cuisines around the world, meet new people and experience new cultures. “I
especially enjoy travel within the African continent where our history and
heritage are truly rich and vibrant,” she says. Exploring new restaurants feeds
her cooking passion and “guilty pleasure” of experimenting with new flavours. 



“Good food need not be complex or high end … it’s the little things that make for a fantastic culinary experience: quality ingredients, technique, creativity, ambiance and value… and isn’t that a euphemism for life in general?”

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