Absa announced it had appointed Wendy Lucas-Bull as its new non-executive chairwoman, following a nine-month search.

Lucas-Bull would lead the Absa Group and Absa Bank.

"Ms Lucas-Bull will succeed Garth Griffin, 63, who will have served on the Absa board for 11 years... when he retires," the group said in a statement.

Griffin would retire at the end of March, having served as chairman for two years.

"The appointment of Wendy is the outcome of an intensive nine-month search process co-ordinated by a special directors' affairs sub-committee," said Brand Pretorius, who headed the sub-committee.

Lucas-Bull would take up the position on April 1, subject to regulatory approval.

Since 2008, Lucas-Bull has served on Nedbank's board as an independent non-executive director. She has extensive banking experience and expertise as a director on company boards across multiple industries in the private and public sectors.

CEO Maria Ramos thanked Griffin for his leadership and contribution to Absa.

"I look forward to working with Wendy, who has gathered vast experience in the financial services industry," she said.

"I believe in the people and the potential of Africa; and I believe that Barclays and Absa together can deliver on the opportunities that present themselves, for the benefit of all our stakeholders," said Lucas-Bull.