Sello Moloko appointed as Chairman of Alexander Forbes

The Alexander Forbes Board of Directors has announced that Sello Moloko will assume the position of Chairman of Alexander Forbes with effect from 1 December 2007.

Moloko is currently Chairman and founding shareholder of Thesele. He holds a BSc Honours degree in Mathematics and a Post Graduate Certificate in Education from the University of Leicester.  In 2003, he completed the Advanced Management Program (AMP) at The Wharton School at the University of Pennsylvania. 

John van Wyk of Actis said, on behalf of the Board: “Sello brings extensive experience in the financial services arena. He began his career at Alexander Forbes and thereafter assumed the role of CEO of Old Mutual Asset Management before leaving this post in August 2004 to pursue his own business interests.  As such, we believe he will make a significant contribution to the business and to our Board.” 

Moloko said, “I am very excited about the prospects of this new role. Alexander Forbes is a leading financial services business with some of the best people in the sector working together to bring effective solutions to their clients’ risk and investment challenges. The company has also made great strides to advance transformation and I look forward to working closely with an experienced and diverse management team to achieve Alexander Forbes’ business objectives and to build on the company’s successes.”

On behalf of Alexander Forbes shareholder, Shanduka Group, Cyril Ramaphosa commented, “I am confident that Sello’s background, knowledge and experience coupled with his proven leadership skills demonstrated at large corporates and in his own business, will bolster the highly regarded Alexander Forbes’ management team.  The appointment also demonstrates Alexander Forbes’ and the Board’s ongoing commitment to transformation and underscores its efforts to lead by example.”

Bruce Campbell will assume the role of Group Chief Executive of Alexander Forbes replacing Peter Moyo whose resignation was announced earlier in the week.

Bruce Campbell said, “I am already enjoying working together with the members of the Alexander Forbes management team and look forward to working with Sello in his role as Chairman to take this great business into the future and to reach the goals I know we can achieve together.”