banking Featured management

Investec gets two heads

Fani Titi who has been a non-executive director on the Investec Group Board since January
2004 and Chairman of the Group since November 2011, and Hendrik du Toit the founding CEO
of Investec Asset Management and an Executive Director of the Group since December 2010,
will be appointed as CEO Designates on 1 April 2018. On 1 October 2018 they will become
Joint CEOs of the Group and will be held jointly accountable and responsible for the leadership
and management of the Investec Group. Hendrik will remain CEO of Investec Asset
Management until 30 September 2018 to ensure an orderly transition in this business.

Kim McFarland, Chief Operating Officer (“COO”) and Chief Financial Officer (“CFO”) of Investec
Asset Management since December 1993, will take over as Group Finance Director on 1 April
2019. Kim will become an executive director of the Investec Group Board on that date. Kim will
continue with her duties as COO and CFO of Investec Asset Management until 31 March 2019
to support an orderly transition in this business.

Ciaran Whelan, who has held various senior positions globally with the Investec group over the
past 30 years, and who is currently Global Joint Head of the Specialist Bank and Global Head of
Private Banking, will be appointed to the Investec Group Board as an executive director on 1
April 2018. Ciaran will succeed Glynn Burger as Director of Risk on 1 April 2019. Ciaran
remains the Global Head of the Private Bank until 31 March 2019.

Stephen Koseff (Chief Executive Officer (“CEO”) of the Investec Group), Bernard Kantor
(Managing Director of the Investec Group) and Glynn Burger (Risk and Finance Director of the
Investec Group) are considered to be part of the “founding members” of Investec and for almost
40 years, together with the Board and the Group’s senior management team, have steered the
Group to becoming an internationally recognised specialist bank and asset manager.

As part of the Group’s orderly succession plan to move from founding members to the next
generation of leadership, Stephen Koseff and Bernard Kantor will step down from their roles on
1 October 2018. From that date until 31 March 2019 they will continue to serve as executive
directors and be available to provide support and advice to the incoming executives. As from 1
April 2019 they will become non-executive directors.

Glynn Burger, Group Risk and Finance Director, will retire on 31 March 2019. Glynn will become
a non-executive director on certain subsidiary and associate boards, and he remains available
and willing to assist in any capacity that the new management team require him for.

During the transition period Stephen, Bernard and Glynn will work closely with the new
executive designates to ensure a smooth and orderly transition.

Author: Investec

management Notices

Innocent Dutiro to lead Adcorp

Listed workforce solutions group Adcorp Holdings Limited announced today the appointment of its new Chief Executive Officer (CEO) Mr Innocent Dutiro and the sale of its effective 34.6% equity stake in Nihilent Technologies PVT Limited for USD 25,5 million to Dimension Data.

Adcorp’s Board of Directors has approved the appointment of Mr Innocent Dutiro as CEO, effective 1 October 2017, to lead the Group as it embarks on its new strategic path.

Innocent, who was the CEO for Africa and Asia at MMI Holdings Limited since June 2016, is a senior business leader credited with extensive and varied executive and board-level experience in strategy, consulting, business turnaround, post-merger integration, performance improvement, and executive management in the banking, fast-moving consumer goods (FMCG) and engineering sectors. He holds BSc and MSc degrees in Mechanical Engineering coupled with an MBA underpinned by a considerable business and personal network across several sub-Saharan countries.

He is a highly effective negotiator and communicator with strong people skills along with solid leadership, problem-solving and decision-making abilities and an eye for the bottom-line. He has held senior leadership positions at Bain & Company, Deloitte Consulting, Gemini Consulting, Nedbank Retail Bank and South African Breweries (SAB), among others.

“I am excited and energised about joining a market leader such as Adcorp,” says Dutiro.  “Adcorp is a well-established business with a strong heritage in South Africa that can be leveraged to create value for all stakeholders,” he adds.

“I am proud to be leading the Adcorp team on this journey as we aim to strengthen our position in the market and contribute positively to the chosen geographies in which we operate,” he continues.

Commenting on the appointment, Ms. Gloria Serobe, Chairperson of the Board says: “The Board is delighted to have secured the services of Mr Innocent Dutiro. “He has the ideal business experience, strategic focus and well-developed network that the Group requires at this critical stage of its evolution. We wish him all the best and pledge the full support of the Board as he steers the business towards its next stage of growth and profitability.”

Acting CEO Mark Jurgens adds that he is looking forward to working with Innocent in his new role. “I believe that given the current economic environment, alignment among key stakeholders is imperative to ensure the effective execution of the strategy required to drive the company forward,” says Jurgens.

Looking ahead, the Group’s strategic path will see a stronger focus on its core operations and as such Adcorp will dispose of its equity stake in Nihilent Technologies to Dimension Data.

Author: Adcorp

inspiration Investment management mzansipreneur

How private equity takes business to the next level

Author: Southern African Venture Capital and Private Equity Association (SAVCA)

In Southern Africa, the impact and value created through private equity extends far beyond just that of a specific deal’s allocated investment, it is also about positively influencing businesses, the communities connected to these businesses, and their broader economic environment. This is according to the recently launched SAVCA 2017 Case Study Compendium (see here) which highlights how private equity investment is resulting in more sustainable business practices and positive community outcomes.

The publication – comprising of sixteen case studies showcasing successful private equity and venture capital partnerships between fund managers and the businesses in which they invest – underscores the long-term nature of these collaborations and confirms the value add offered to both start-up and established businesses.

Tanya van Lill, CEO of the Southern African Venture Capital and Private Equity Association (SAVCA), says that these case studies confirm that partnerships of this nature represent a great deal more than just monetary investment. “Private equity plays a vital role in corporate governance, job creation, employment equity initiatives, skills programmes, and social upliftment, thus rendering the portfolio company more resilient, more efficient, with healthier governance structures and with an expanded footprint.”

Technology is a recurring theme from the SAVCA 2017 Case Study Compendium, adds van Lill. “Some of these companies have introduced systems to manage their operations more efficiently, while others have introduced new technology to the market. An example of this is seen in the Emfuleni Voerkrale case study, where the sheep feedlot company was backed by IDF Managers in 2015 to acquire a state-of-the-art electronic scale to weigh animals. This allows management to easily access and analyse data on each animal, which has enabled faster and more efficient decision-making.”

art management Media Release training

Call for Applications: Artist Career BootCamp

Author: Bag Factory Artists’ Studios

Are you a visual artist looking to jump-start your professional career? What you need is boot camp. The Artists’ Career Boot Camp is an exciting new opportunity for artists looking to fully immerse themselves in what it takes to manage their careers effectively.

A first in South Africa, it is designed to empower new artists with the critical skills to get serious about a career in the visual arts. It will train you to engage directly and confidently with market platforms to promote sustainability in your careers and professionalism in your practice.