| Thu 3 Jun 2004, 11:54 | | EXECUTIVE AND MANAGEMENT APPOINTMENTS |
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CADIZ HOLDINGS LIMITED - EXECUTIVE AND MANAGEMENT APPOINTMENTS
Cadiz Holdings Limited
(Incorporated in the Republic of South Africa)
Registration number 1997/007258/06
ISIN: ZAE000017661
JSE share code: CDZ
(`Cadiz` or `the group`)
MEDIA RELEASE
CADIZ APPOINTMENTS SHOW COMMITMENT TO TRANSFORMATION AND PEOPLE DEVELOPMENT
Specialist financial services group Cadiz Holdings has announced several
executive and management changes and appointments, including the promotion of
Ram Barkai to a newly-created position of deputy chief executive officer of the
group. In this position, he will assist with the strategic direction of the
group and look for opportunities for growth.
Barkai, 46, was previously managing director of Cadiz Specialised Asset
Management (`CSAM`), where he has been since its formation in 1996. In this
time, assets under management have grown from zero to over R13 billion.
Frank Cadiz, one of the founders of the group, is currently managing director of
Cadiz Financial Strategists (`CFS`) and has been appointed to head up CSAM.
Frank has spent 11 years consulting to the pension fund and asset management
industries. Under his leadership, CFS has built a reputation as leaders in
derivatives, quantitative, fixed income, innovative and risk management
research. CFS was recently rated first in the Financial Mail survey in the
derivatives dealing and research categories for the eighth consecutive year.
Dan Ahern, head of equity derivatives, and Kevin Morley, head of fixed income,
have been appointed joint managing directors of Cadiz Financial Strategists.
Thabo Tembo has been promoted to head of equity derivatives.
Rick Kerwin has been promoted to head of fixed income.
Professor Dave Bradfield, currently head of quantitative research for Cadiz
Financial Strategists, has been promoted to head of research for the Cadiz
group.
Mabatho Seeiso, head of marketing and business development at Cadiz Specialised
Asset Management, has been appointed as a director of CSAM.
Cadiz Investment Products, which services high net-worth investors and
retirement funds, has been part of CSAM since its formation in 2000. Following
its strong growth and penetration of the retail market, Cadiz Investment
Products will now become a stand-alone business unit under the leadership of
Evan Jones.
The appointment of Peter-Paul Ngwenya as a non-executive director of Cadiz
Holdings was confirmed at the company`s annual general meeting on 28 May 2004.
Ngwenya is chairman of Makana Investment Corporation and his appointment follows
the acquisition by the Makana consortium of a strategic shareholding in Cadiz
Holdings in March this year. He is a founding trustee and former chairman of
Makana Trust and is the treasurer of the Ex-Political Prisoners Committee.
Sfiso Buthelezi has been appointed as an alternate director to Peter-Paul
Ngwenya. Buthelezi is a former economic adviser to Jacob Zuma, is the first
chief executive officer of the National Gambling Board, and a founder member of
Autshumatu Investments and Robben Island Ferries. His directorships include
Transnet, Railway Systems of Zambia, Allports of Ghana, Octagon SA and Tstutsuma
Energy Consulting.
Ray Cadiz, chief executive of Cadiz Holdings, said the appointments reflected
the group`s strategic commitment to staff development and transformation.
`The fact that we were able to fill all of these key positions from within the
group highlights the depth of talent at Cadiz and the benefits of ongoing
training and development of our people. Most of these executives have been with
the group for several years and our high retention rate of staff enables us to
invest prudently in people development.`
He said transformation was a corporate priority within Cadiz, and significant
progress was being made in appointing talented young black professionals who are
fast-tracked into leaders of tomorrow. `Human resource development is a critical
element of our inclusive approach to black economic empowerment and we are
committed to increasing representivity at the highest levels in the group,` said
Cadiz.
Ends
Issued by Tier 1 Investor Relations on behalf of Cadiz Holdings
For further information contact
Cadiz Holdings
Tel (021) 657-8300
Tier 1 Investor Relations
Tel (021) 702-3102
Cape Town
3 June 2004
Date: 03/06/2004 11:33:13 AM Produced by the JSE SENS Department
