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Liberty announces appointment of Steven Braudo as Chief Executive, Corporate Business

13 April 2008 Liberty

Liberty Group Ltd ("Liberty") has announced the appointment of Steven Braudo (36) as Chief Executive, Corporate Business, with effect from 01 July 2008.

Braudo will be responsible for the strategic business development of Liberty's wealth and insurance offerings to corporate clients, including retirement funds and group investment and risk benefits. He will also join Liberty's Executive Committee.

Liberty Chief Executive Bruce Hemphill said "I am delighted that Steve has agreed to join an executive team committed to building Liberty into Africa's leading wealth company."

"Given the forthcoming possibly fundamental reform of the South African pension funds industry, strategic opportunities in the corporate business arena are likely to become a cornerstone of Liberty's future success as a wealth management group."

"But more than that, I think that Steve's deep understanding and appreciation of all aspects of the wealth industry will bring an added dimension to Liberty's total business strategy in terms of thought leadership. I am very excited at the prospects that his proven knowledge, talent, leadership and experience offer us."

Braudo was previously Managing Director at Investment Solutions, South Africa's largest multi-manager, where he grew global assets under management to more than R160billion since his appointment in 2002. He is a Chartered Financial Analyst, as well as a qualified actuary.

Braudo said "I'm naturally excited to be joining Liberty at this crucial juncture in its growth strategy, and look forward to contributing to achieving its African vision, which is both compelling and challenging."

"Although I feel that the time is right for me to accept those new challenges, I am nevertheless sad to be leaving Investment Solutions. I want to sincerely thank my colleagues there for their support throughout ten great years, and for their good wishes in my new endeavours."

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