Nedbank Group Ltd. (NED.JO), one of South Africa's four largest lenders, Tuesday said Saks Ntombela, managing executive of retail and a member of its executive committee, has resigned with immediate effect.

MAIN FACTS:

- Ingrid Johnson, group managing executive or retail and business banking, will assume direct leadership responsibility for the retail business.

- Saks has held various managerial positions in Nedbank Retail over the past seven years.

-By Johannesburg bureau, Dow Jones Newswires; +27 11 783 7848; robb.stewart@dowjones.com
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