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ABIL RECRUITS TOP BANKER AS FINANCIAL DIRECTOR
African Bank Investments Limited
(Registration number 1946/021193/06)
JSE Share code : ABL
ISIN : ZAE000030060
("ABIL")
MEDIA RELEASE
(4 October 2002)
African Bank Investments Limited (Abil) has appointed David Woollam as
Group Financial Director of Abil and Finance Director of African Bank
with effect from 1 November 2002. Woollam was previously Group
Financial Director at BoE and, more recently, became part of the senior
management team at Nedcor following its recent purchase of BoE.
Woollam`s extensive international and local banking experience will
substantially bolster Abil`s executive management team, and his
appointment is regarded as a major coup for the country`s largest credit
banking group.
Woollam began his career in chartered accounting at Deloittes and gained
extensive international experience at various investment banking groups
in the United Kingdom during the 1990s. During his time as Group FD at
BoE he also developed an excellent working relationship with Abil based
on BoE`s previous substantial shareholding in the group.
Woollam`s appointment, which is subject to regulatory and other
necessary approvals, was welcomed by Leon Kirkinis, Abil`s CEO, as "an
exceptional appointment, and we look forward to his contribution to the
future growth and profitability of the group."
Woollam further commented, "I am very excited at the prospect of joining
Abil - the company has shown great resilience and has matured to take
its place as the market leader in its field. I believe that African
Bank has a very important role to play in the evolution of the financial
services industry in South Africa and, together with an exceptional
management team, I look forward to playing a role and making a
contribution to that process."
In a further announcement, African Bank confirmed that Tami Sokutu, in
his capacity as Chief Operating Officer at the bank, has assumed
responsibility for Operations, IT, Sales and Human Resources. He and
Woollam will work together closely to implement African Bank`s growth
and development strategy going forward.
Woollam and Sokutu, as well as the executives responsible for Credit,
Group Strategy and the Saambou personal loans business, will report
directly to Leon Kirkinis.
Ends
Released by African Bank Corporate Affairs : (011) 256 9050 / 082 453
2070
For further information please contact :
Leon Kirkinis : CEO, Abil - (011) 256 9239
David Woollam - 083 635 9064
Sponsor
Deutsche Securities (SA) (Propietary) Limited
Registration number 1995/011798/07
Date: 04/10/2002 07:00:03 AM Produced by the JSE SENS Department
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