Treasury appoints three top people

National Treasury has announced three key appointments of people whose job it is to protect your savings. They are:

Muvhango Lukhaimane, as the Pension Funds Adjudicator. Lukhaimane, who was appointed deputy adjudicator in June last year, holds an N Juris and LLB and LLM degrees and has postgraduate diplomas in management studies and financial planning and is currently studying for her MBA.

She has extensive knowledge of the pension fund industry, where she previously worked as a research consultant and legal adviser.

Lukhaimane is an advocate of the High Court and has experience as a university lecturer and as a principal officer of a large retirement fund.

Rosemary Hunter, as deputy chief executive of the Financial Services Board (FSB) in charge of retirement funds. Hunter, who is a well-known pension funds lawyer, replaces Jurgen Boyd, who is now in charge of collective investment schemes. Currently, Hunter is an attorney and director at the law firm Bowman Gilfillan.

She is the lead author of the pension law textbook: The Pension Funds Act: A commentary.

Caroline da Silva, an expert in short-term insurance, as the deputy chief executive in charge of Financial Advisory and Intermediary Services (FAIS), which regulates financial advice. Da Silva, who replaces Gerry Anderson, who retires in August, is currently executive general manager at Mutual & Federal in charge of sales and market development. Previously, she was deputy chief executive of the short-term insurance industry body, the South African Insurance Association and worked for Santam.

Da Silva has two BA degrees. She has worked with the FSB on several projects, including as a member of the advisory committees for FAIS and short-term insurance.

In announcing the FSB appointments, National Treasury said they should be seen as facilitating the transformation of the FSB into a fully-fledged market conduct regulator in the implementation of the new “twin peaks” regulatory structure.