| Fri 21 Oct 2011, 12:05 | | MMI - MMI Holdings Limited - New Momentum Retail CEO appointed |
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MMI
MMI
MMI - MMI Holdings Limited - New Momentum Retail CEO appointed
MMI Holdings Limited
(Incorporated in the Republic of South Africa)
Registration number: 2000/031756/06
ISIN Code: ZAE000149902
JSE Share Code: MMI
NSX Share Code: MIM
("MMI" or "the company")
New Momentum Retail CEO appointed
MMI Holdings, the financial services company born from the merger of
Metropolitan and Momentum, has announced the appointment of Mark van der Watt
as the new CEO of Momentum Retail, one of the group`s six operating
divisions.
Mark van der Watt replaces Johann Le Roux who has been the CEO of Momentum
Retail for the past three years.
Nicolaas Kruger, Group CEO of MMI Holdings says "Johann le Roux has made a
significant contribution to Momentum over the past thirteen years and his
leadership during this merger process has been invaluable. With the key
merger decisions finalised and new business structures in place, Johann has
decided to take a one year sabbatical and we respect his decision and look
forward to welcoming him back in future".
"We are happy to announce Mark van der Watt as the new CEO of Momentum
Retail. Mark has been with Momentum for 16 years and knows the business
intimately having played various leadership roles including most recently,
CEO of the insurance business in Momentum Retail," concludes Kruger.
Mark van der Watt`s appointment is effective from 1 January 2012.
Ends
Released by: Redline On behalf of: MMI Holdings
Contact: Tandisizwe Mahlutshana Contact: Lerato Mametse
Tel: 021 680 7776 / 071 115 6092 Telephone: 012 671 8818 / 084 406 8272
Email: Email:
Tandisizwe@draftfcbct.co.za lerato.mametse@mmiholdings.co.za
Mark van der Watt is 44 years old. He joined Momentum in January 1995 as an
actuarial student and qualified as an actuary in 1999. He gained valuable
actuarial valuations experience and later moved on to head up the Myriad risk
product house. Mark is currently the CEO of the Insurance business in
Momentum Retail, which includes Myriad, the Multiply client rewards offering
and Momentum Short-term insurance. He has developed an intimate knowledge of
the products, systems and distribution channels in Momentum Retail.
Momentum Retail, a division of MMI Holdings, operates in the upper income
retail market and provides wealth creation and preservation, protection,
savings and income products to service the needs of this segment. Momentum
Short-Term Insurance (MSTI), as well as Momentum Wealth (previously part of
Momentum`s Investments business), form part of Momentum Retail.
Responsibility for distribution and sales for the products of certain other
divisions (using financial advice channels) also resides in Momentum Retail.
21 October 2011
Sponsor Merrill Lynch South Africa (Pty) Limited
Date: 21/10/2011 12:05:29 Produced by the JSE SENS Department.
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