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Discovery Headquarters in Sandton (Boogertman and Partners)
Barry Hore, who has led the process of creating Discovery Bank, stepped down as CEO after the digital bank’s launch last July.
Discovery announced Thursday that he will be replaced by Hylton Kallner after the digital bank, which has seen its first full year of operations with more than 500,000 accounts and R5 billion in retail deposits, completed its creation and migration phase.
“For the past five years, Barry has led the Bank’s construction from the ground up, culminating in the public launch and completion of the migration of FNB’s Discovery Card portfolio,” said Discovery Group CEO Adrian Gore in a release.
Hore said he felt privileged to have helped create and build the bank.
“I would like to thank the incredible team that has supported me on this journey and I feel confident that I can leave at this time, having built the solid foundations of a unique and disruptive banking capacity.”
Gore said Kallner will “leverage” his experience as CEO of SA’s businesses to move the bank forward.
“His experience in conceptualizing and operating the original Discovery Card and, more recently, in overseeing the provision of core Group services to Discovery Bank, adds to the competencies gained in his decade as Group Marketing Director.”
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