Change in Directorate and Senior Management at Alexander Forbes
Change in Directorate and Senior Management
The board of Alexander Forbes said today that Group Finance Director, Mike Ilsley, had resigned from his position and would be replaced by Deon Viljoen with immediate effect. Although Ilsley will come off the board of the Company on 1 June 2007, he has agreed to continue as a senior executive of the group until 31 March 2008, which will ensure a smooth handover of his responsibilities to Viljoen.
Peter Moyo, Group Chief Executive, complimented Ilsley, saying that throughout his tenure he had made a significant contribution to the group and had been an invaluable member of its leadership team. Moyo said Ilsley had played a key role in the resolution of a number of legacy issues for the group, the development of the groups financial reporting and the strengthening of the group's balance sheet.
Deon Viljoen, who is a chartered accountant, joined the group as Finance Director of Investment Solutions in 2003 and in November 2004 was appointed as the Africa Finance Director.
Moyo said that he had been impressed with Viljoen's performance and noted he had fulfilled his role with distinction. "Viljoen's considerable experience as well as his close working relationship with me and with Mike Ilsley means that he is well placed to succeed Mike as Group Finance Director."
Appointment of Deputy Managing Director to Alexander Forbes Financial Services South Africa
In addition to the abovementioned change, the Group is also pleased to announce the appointment of Nomkhita Nqweni as Deputy Managing Director of the South African Financial Services business with effect from 1 May 2007. She will join Managing Director, Howard Walker, who has been responsible for the business since 2000.
Nomkhita Nqweni holds a BSc degree from Rhodes University and a Post Graduate Diploma in Investment Management from RAU (now University of Johannesburg). Nqweni has a proven track record within the Alexander Forbes group where she held senior management positions initially in Investment Solutions responsible for Business Development for six years and more recently assisting developing the strategy of the group, reporting directly to Peter Moyo.
In addition, she is involved in various industry associations. She is an Executive Committee member and Deputy President of the Association for Black Securities and Investment Professionals (ABSIP), she is a Board member of the Financial Sector Charter Council and a Board member of the Business Womens Association.
Moyo said, "I am confident that together with Howard Walker and the current Financial Services team, Nomkhita is well placed to become a senior member of the team that takes Alexander Forbes Financial Services South Africa into the future."
