If you give, give more

FAnews spoke to Phillip Matlakala, Chief Executive of Metropolitan Retail, about his life and his new position.

At the head of Metropolitan Retail stands Phillip Matlakala, an engineer by heart and a lawyer by profession, who operates on the principle "If you give, give more".

With a B.Juris, a B.Proc and an Insurance Tax qualification behind his name, Phillip is well qualified to lead Metropolitan Retail to greater heights. His position as Chief Executive is one that he enjoys and considers his most significant professional achievement to date.

He leads the company in an industry that is fast changing and constantly evolving, but, says Phillip, "I am very positive about all the changes we are facing. In fact, Metropolitan and I welcome the transformation. These changes are good for our industry and we will come out looking better at the end of it all."

Before joining Metropolitan, Phillip spent nine years at Fedsure and Norwich and was head hunted by Metropolitan during the time Fedsure was being taken over by Investec. "I joined Metropolitan in 2001 as the General Manager of Group Schemes and was later appointed as the Executive General Manager of the Metropolitan Life business.

"What I enjoy most about my position are the people and the fact that my position is not a peripheral position, but actually makes a difference in people's lives. The markets we deal in gives me job satisfaction. We really are providing access to under insured people who need financial services products.

"The least enjoyable part of my job is exactly the opposite. Retail is responsible for 57% of the Group's profits and if Retail does not perform, people may run the risk of losing their jobs. This is the pressure I face and I am always cautious about it."

Phillip's priorities are to increase production, reduce expenses and reduce lapse rates. "In a nutshell," he explains, "I need to increase profit margins."

A keen golfer, Phillip also enjoys soccer and cricket. He is also a family man and has two children, a daughter of 16 and a son aged 11, with his wife Elizabeth.

Phillips says he was always interested in the Natural Sciences and dreamt of becoming an engineer. "When I applied to study engineering, I was informed that the course was full and I then decided to study Law. I have never regretted this decision."

The will to succeed is what motivates Phillip. "I see myself as a role model for young black people and this also motivates me. I am fortunate to have a great deal of persistence and perseverance. I don't give up easily."

This may be because despite the heights he has reached in his profession, Phillip has not forgotten to be grateful. "I teach my children to be grateful for what they have and to always realise that what they have is a privilege, not a right. What we have can be taken away at any time – being grateful ensures we don't take what we have for granted, nor forget how many others do not have what we enjoy every day."