The chair of the boards of African Bank and African Bank Holdings, Louis von Zeuner, has resigned to join the board of a company in the financial services industry.

In a statement on Thursday morning Von Zeuner said he was “proud to have contributed to the bank’s successful journey over the past three years”.

Board member Louisa Stephens will co-ordinate the boards’ activities until regulatory approval of a chairperson is granted by the Prudential Authority.

The bank said a further announcement regarding the appointment will be made in due course.