Three Trailblazers, One Bank, and a Quieter Kind of History

At the reveal of Africa.com’s 2026 Definitive List of Women CEOs, the three executives guiding FirstRand’s core businesses centered their discussion on the impact and legacy they intend to build, rather than the historical milestone of their appointments.

The conversation was moderated by Zanele Morrison, a business anchor at CNBC Africa, and produced by Africa.com.

For the first time in FirstRand’s history, three women simultaneously hold the reins of its most consequential businesses: Mary Vilakazi as Group Chief Executive, Lytania Johnson leading as FNB CEO and Emrie Brown at the helm of RMB. On a continent where the Definitive List screened more than 1,500 companies across all African stock exchanges to identify the women running its largest listed firms, this is a significant alignment of circumstances.

However, anyone expecting a celebration of the milestone itself would have found the conversation indifferent to it. Asked directly what women bring to the leadership table, Vilakazi admitted she struggled to answer the question as framed. “When you see us at a group executive exco, I forget anybody’s gender,” she said. What mattered to her was whether the team is aligned on values, operates cohesively, and can effectively support the organization. The moment was telling: while the history is real, the women who made it were quick to look beyond it.

Careers built from events, not titles

None of the three executive leaders described a linear career path. Pressed on how she arrived in the group’s top role, Vilakazi traced a path through entrepreneurship, a stint as an insurance CFO, and a tenure as group COO. She called the COO role “such a luxury” because it allowed her to learn the business thoroughly from the inside before taking charge. The common thread was not ambition for a specific job title, but accumulated insight across small businesses, banking, organizational culture, and people.

Brown was equally candid. The formative experience of her career, she shared, was making a mistaken decision. She had resigned from RMB, believing she could not balance investment banking with motherhood, only to realize within three months that she had made an error. Returning meant stepping back into a role she had held nine years prior, trading business leadership to become a deal-maker again. “As leaders, we don’t always have to get every decision right,” she reflected, “but we need to recognize when we get one wrong, have the humility to admit it, and have the courage to change course.”

Johnson described her trajectory as “an accumulation of different chapters” across finance, risk, human capital, and corporate management. A move into a business role that others might have viewed as a demotion was, for her, an opportunity to gain the breadth needed to lead. Her key takeaway was practical: embrace innovation, stay curious, and continuously earn trust through every decision.

What a banking CEO actually needs

While their paths differed, the leaders agreed on what the role now demands. Vilakazi outlined the qualities a strong board seeks in a leader: someone who can unite diverse, talented individuals around a shared vision; demonstrate a consistent track record of execution; maintain credibility with regulators, employees, shareholders, and government entities; and uphold unwavering integrity in an industry grounded in trust. Combined with fluency in AI and governance, she noted that boards can only reliably identify such leaders by planning succession well in advance.

Leadership style is equally critical, with all three agreeing that leading at this scale is not about individual achievements. “It is what you can achieve through others,” Brown emphasized, describing an environment that pairs high expectations with genuine investment in people. Johnson highlighted the importance of navigating ambiguity and providing steady guidance during uncertain times. She noted that FNB’s core purpose is to be a trusted partner for its customers, serving a client base ranging from retail consumers and small businesses, right up to high-net-worth individuals.

The village, and the rhythm

The panel’s most personal discussion centered on work-life balance. A phrase the moderator intentionally avoided, as none of the leaders viewed complete balance as realistic. Brown proposed the concept of “rhythm” instead, a fluid dynamic between intense periods of work and intentional recovery, supported by family, a strong peer network, and the discipline to recharge personal energy. Johnson shared a similar sentiment, emphasizing that one can only support others when “your cup is full” – meaning you are well-rested, which for her involves reading, outdoor activities, and faith.

Vilakazi candidly addressed the demands of executive leadership. The primary surprise of the top role, she noted, is its intensity: managing higher expectations, broader scope, and a demanding schedule. To manage this pressure, she relies on a strong surrounding team, capable colleagues who manage crises effectively, and personal interests that maintain perspective, including family activities and horseback riding. Organizational well-being, she maintained, must be actively practiced rather than merely discussed: “We can’t look like our problems.”

Who opened the door

When asked about influential figures in their careers, all three highlighted specific actions over general mentorship. Vilakazi credited former boss Alan Pullinger for his trust when hiring her externally and giving her space to establish her approach rather than comparing herself to long-tenured colleagues. She also acknowledged leaders who intentionally built diverse teams, recalling instances where she advocated for female representation on executive committees.

For Brown, the most impactful figures were those who challenged her and offered high-responsibility opportunities before she felt fully prepared. “They didn’t just shape my career,” she stated. “They shaped me.” Johnson highlighted a sponsor who championed her inclusion on an executive committee at age 28, putting his reputation on the line to advocate for her (a gesture by the current Bank Zero CEO that demonstrated what was achievable).

Legacy, and the next 187 years

Looking to the future, each leader outlined a clear vision for the lasting impact they intend to leave behind. Vilakazi’s goal is for FirstRand to remain grounded in its foundational values while continuing to adapt to industry changes, maintain customer relevance, develop talent, and deliver strong returns amidst new competitive landscapes. Her emphasis remains on energizing the workforce, streamlining operations, and empowering talent to drive growth.

Brown’s objective is to build a business that achieves sustainable growth while remaining deeply human, a balance she noted requires deliberate effort as companies scale. Johnson focused on steering FNB to remain customer-centric, foster innovation, promote inclusive growth, and position the institution for long-term impact across future generations.

The discussion concluded with reflections on diversity, which the panel emphasized should be an active practice rather than a static goal. Diversity alone, Brown cautioned, does not guarantee better outcomes; success lies in effectively leveraging varied perspectives. Johnson expanded the concept beyond gender to encompass diversity of thinking, across background, age, and skill sets, noting for example FNB’s recruitment of behavioral psychologists to better understand customer needs. Brown added that visible representation in executive positions provides a clear path for future leaders, noting that seeing women in these roles demonstrates the long-term possibilities within the banking sector.

The full leaders’ conversation is available on demand at Africa.com and TheDefinitiveList.africa.com.