MMI Hold­ings

RISKSA Magazine - - CR -

On 30 June 2015, MMI group fi­nance di­rec­tor, Pre­ston Speck­mann, ef­fec­tively re­tired from his role af­ter 16 years serv­ing the group. Suc­ceed­ing him is MMI’s CFO, Mary Vi­lakazi, whose new role as group fi­nance di­rec­tor was ef­fec­tive as of 1 July 2015. Speck­mann will also step down as an ex­ec­u­tive di­rec­tor and Vi­lakazi will take up the role of ex­ec­u­tive di­rec­tor to the MMI Hold­ings and MMI Group Boards. Vi­lakazi first be­came as­so­ci­ated with MMI when she was a part­ner at PwC re­spon­si­ble for the Metropoli­tan au­dit. She then served as a non-ex­ec­u­tive di­rec­tor of Metropoli­tan and sub­se­quently as nonex­ec­u­tive di­rec­tor of MMI where she was a mem­ber of the au­dit and ac­tu­ar­ial com­mit­tees. In May 2014, Vi­lakazi was ap­pointed as an ex­ec­u­tive of MMI as the CEO of Bal­ance Sheet Man­age­ment and be­came MMI’s chief fi­nan­cial of­fi­cer in Septem­ber that same year.

Vi­lakazi’s ap­point­ment com­pletes the suc­ces­sion plan­ning and struc­tured han­dover process im­ple­mented in 2014 ahead of Speck­mann’s re­tire­ment. Also leav­ing ef­fec­tive 30 June is group ex­ec­u­tive for strate­gic HR and trans­for­ma­tion, Ngao Mot­sei, who is leav­ing cor­po­rate to pur­sue other in­ter­ests. Mot­sei joined MMI in June 2011 as group ex­ec­u­tive: strate­gic HR and took over the trans­for­ma­tion port­fo­lio in Oc­to­ber 2012. She will also step down as an ex­ec­u­tive di­rec­tor on the MMI Hold­ings Board and as MMI group ex­ec­u­tive for strate­gic HR and trans­for­ma­tion on 30 June 2015. CEO Ni­co­laas Kruger has ex­pressed his grat­i­tude to Speck­mann and Mot­sei for their valu­able con­tri­bu­tions to MMI Hold­ings and has wished Vi­lakazi well in her new role.

ACE Group

busi­ness in South Africa. On May 28, the ACE Group an­nounced that COO, Gary Jack, would be pro­moted to the po­si­tion of coun­try pres­i­dent where he will be re­spon­si­ble for man­ag­ing the per­for­mance, strat­egy and de­vel­op­ment of all ACE’s prop­erty, ca­su­alty and con­sumer lines Jack will be re­plac­ing John Nien­aber – who has left to pur­sue op­por­tu­ni­ties out­side of the com­pany, and he will be based in ACE’s Sand­ton of­fice where he will be re­port­ing to re­gional pres­i­dent for Eura­sia and Africa, Giles Ward. “Af­ter three years of val­ued ser­vice as coun­try pres­i­dent, I am very sorry that we are los­ing John. His lead­er­ship has been piv­otal to the re­cent suc­cess and growth of our busi­ness thanks to his ex­cel­lent un­der­writ­ing back­ground and his strong mar­ket re­la­tion­ships. He leaves with our sin­cere ap­pre­ci­a­tion and our best wishes for the fu­ture,” said Ward. Jack has spent seven of his 15 years in in­sur­ance at ACE. He joined ACE in 2008 as head of ac­ci­dent and health and prior to ACE in South Africa, he worked at AIG South Africa as re­gional un­der­writ­ing man­ager for Africa. Jack started his in­sur­ance ca­reer at Alexan­der Forbes Fi­nan­cial Ser­vices, one of South Africa’s lead­ing in­sur­ance bro­kers. Ward re­ports that over the past three years, Jack has been closely in­volved in the de­vel­op­ment of the ex­panded prod­uct ca­pa­bil­ity and clear strat­egy that ACE now has in place in South Africa. He says their busi­ness is now well placed for the fu­ture thanks to Jack’s strong man­age­ment track record dur­ing the last seven years and he ex­presses his fullest con­fi­dence in Jack as he leads them through the next phase of growth. Brian Seach, chair­man of the Board for ACE In­sur­ance Lim­ited in South Africa, said that the board was de­lighted to welcome Jack to the role of coun­try pres­i­dent for South Africa and that Jack’s ex­ten­sive in­sur­ance in­dus­try ex­pe­ri­ence, proven strate­gic man­age­ment ca­pa­bil­i­ties and strong mar­ket re­la­tion­ships make him well suited for the role. “We look for­ward to work­ing with him as we con­tinue to grow the busi­ness in South Africa. We would also like to thank John for his valu­able con­tri­bu­tion over the past three years and wish him well in his fu­ture en­deav­ours,” said Seach.

Stan­dard Bank

The deputy chief ex­ec­u­tive for Lib­erty Hold­ings Ltd, Steven Braudo, has ac­cepted the po­si­tion of chief ex­ec­u­tive, wealth for the Stan­dard Bank Group, ef­fec­tive 1 July 2015 and sub­ject to reg­u­la­tory ap­proval. Braudo’s new role will in­volve di­rect man­age­ment re­spon­si­bil­ity for the wealth busi­nesses within the bank­ing oper­a­tions in South Africa, Jersey, the Isle of Man, as well as the rest of Africa in ad­di­tion to man­ag­ing the ban­cas­sur­ance re­la­tion­ship with Lib­erty. He will be re­lin­quish­ing his ex­ec­u­tive re­spon­si­bil­i­ties at Lib­erty, but will re­main on the Lib­erty Hold­ings board. “Steven’s ap­point­ment re­flects the strate­gic im­por­tance of Lib­erty’s re­la­tion­ship with Stan­dard Bank, which gives us a unique com­pet­i­tive ad­van­tage in South Africa and the rest of Africa, and forms an in­te­gral part of Lib­erty’s 2020 strat­egy,” said chief ex­ec­u­tive, Thabo Dloti. “We are for­tu­nate to have some­one with Steven’s ex­pe­ri­ence and ex­per­tise in Lib­erty’s lead­er­ship team to as­sume this im­por­tant role and en­sure con­ti­nu­ity for the group. His valu­able con­tri­bu­tion to the turn-around of the Re­tail SA busi­ness and com­mit­ment to the suc­cess of the group will re­main part of Lib­erty’s history,” added Dloti, who went on to say that given the depth of the Lib­erty man­age­ment team, Braudo’s ex­ist­ing re­spon­si­bil­i­ties would be re­al­lo­cated ap­pro­pri­ately. Dloti looks for­ward to work­ing with Braudo in his new role; lever­ag­ing the syn­er­gies be­tween the two en­ti­ties to un­lock value for both groups.

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