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MMI appoints asset management leadership

03 February 2011 MMI

Asset Management leadership

MMI Holdings has announced a leadership team for its Asset Management business that results from the merger of Metropolitan Asset Managers and RMB Asset Management.

The Investments division of MMI Holdings consists of Asset Management, Alternative Investments, Multi-Management, Property Investments, Collective Investments, and International Investments; all under the leadership of Morris Mthombeni, executive director of MMI Holdings. This announcement relates only to the Asset Management business of MMI’s Investments division.

The incoming executive directors of MMI's Asset Management business are Jonathan Stewart, Romeo Makhubela, Wayne McCurrie and Sibusiso Mabuza.

· Jonathan Stewart has been appointed chief investment officer accountable for the overall investment philosophy and process.

· Romeo Makhubela will be responsible for house view investments

· Wayne McCurrie will be responsible for specialist investments

· Sibusiso Mabuza has been appointed chief operating officer responsible for ensuring the different business units are aligned to support the achievement of MMI’s Asset Management vision.

Morris Mthombeni in his capacity as MMI Holdings executive director responsible for the Investments division is also ultimately accountable for the Asset Management business.

"In keeping with our belief that asset management is best viewed as a profession, we have decided to structure the leadership of our Asset Management business along partnership principles,” commented Mthombeni.

Mthombeni says, “The vision of MMI's Asset Management business, as agreed by the merging asset managers, is to be widely recognised as the leading empowered large asset manager in South Africa that consistently delivers on promised asset performance. In order to deliver on this objective we will create a strong cohesive culture and a sound investment process by assembling a dynamic and diverse group of individuals who operate as a unit in pursuit of a common purpose.

“One of the key principles driving the integration process is ensuring that we retain our best people to ensure continuity of our successful initiatives, while reviewing those initiatives that have limited us in achieving our ultimate vision.”

The Asset Management business will have a presence in Bellville and Sandton, but the core asset management team will be based in Sandton.

“We are confident that this leadership team has broad and complementary experience in managing money and running an asset management business. As such, I believe they are well equipped to achieve our vision," concludes Mthombeni.

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