| Mon 7 Mar 2005, 16:20 | | Appointment of new CIO for MetAM |
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Metropolitan - Appointment of new CIO for MetAM
Metropolitan Holdings Limited
(Incorporated in the Republic of South Africa)
Registration number: 2000/031756/06
JSE Code: MET
NSX Code: MTD
ISIN Code: ZAE000050456
(`Metropolitan`)
Metropolitan appoints new CIO for MetAM
Metropolitan today (7 March 2005) announced the appointment of Liston Meintjes
as chief investment officer of Metropolitan Asset Managers (MetAM) with effect
from 1 June 2005. Meintjes takes over from Asief Mohamed.
Metropolitan`s chief executive: corporate, Abel Sithole, welcomes the wealth of
new dimensions that Meintjes will add to the asset management function of the
Metropolitan group at both a strategic and an operational level. `Liston is
widely recognised as a leading exponent of the art and science of asset
management, acknowledged as much for his business acumen as for his technical
abilities. We are greatly looking forward to having him on board.`
A qualified actuary, Meintjes has an M Sc in mathematical statistics from UCT
and has lectured in maths stats at Natal University, in quantitative methods and
investments at the Graduate School of Business at UCT and in investments at the
Stellenbosch GSB. Consequently he brings both an academic and a practitioner`s
approach to asset management.
After a short time at Old Mutual as manager: investments technology, Liston was
instrumental in founding Foord and Meintjes in 1981, an investment management
company with an enviable track record in institutional investment performance
over many years. His responsibilities included computer systems, economic
research, company analysis and marketing, as well as managing selected
institutional and individual portfolios.
In 1998 he left South Africa to work in New Zealand for some two years. This
included consulting to Morningstar, a fund ratings agency, in Auckland and a
stint in the actuarial department of Colonial Life in Wellington as the liaison
with the investment managers.
In 2000 Meintjes was head-hunted by African Harvest and returned to this country
to join their start-up multi-manager operation, OptiVest, that merged with
Plexus Asset Management where he was CIO until 2003. During that period, five
local risk-profiled unit trusts and four global collective investment products
were under his control.
On being invited to join Tri-Linear, an empowerment asset management company in
the country, by founders Sam Buthelezi and Thembinkosi Dube, with whom he had
been associated as mentor and co-marketer when they established the company in
1996, he was quick to accept. He held the position of chief investment officer
responsible for investments, at the time of his resignation. In addition to
leading and mentoring the investment team, his chief responsibilities were
investment processes, governance, portfolio management, marketing and
relationship management.
Sithole says the members of the MetAM team are particularly excited about the
new perspectives that Meintjes`s combination of top-down, bottom-up and
quantitative analysis will introduce. `Liston has been largely responsible for
the recent top quartile performance of Tri-Linear`s equity, balanced and bond
funds. Their renowned capital protected products also owe a great deal of their
success to his expertise in the quants arena and his optimum utilisation of
derivative strategies. Working with someone with a track record like his,
someone as knowledgeable, highly skilled and clearly focused as he is, will be
exhilarating for all concerned.`
MetAM is also greatly looking forward to benefiting from Meintjes`s commitment
to and flair for marketing - he was responsible for developing what is known as
the publicity model at Tri-Linear. In addition, his extensive network of
contacts amongst actuaries, consultants and multi-managers countrywide should
help to open doors to new third party business opportunities.
end
ISSUED BY SUE SNOW
FINANCIAL MEDIA SPECIALIST
METROPOLITAN HOLDINGS LIMITED
TEL 021 9406119
DATE 7 MARCH 2005
QUERIES ABEL SITHOLE
CHIEF EXECUTIVE: CORPORATE
METROPOLITAN HOLDINGS LIMITED
TEL 021 9406478
Sponsor
Merrill Lynch South Africa (Pty) Limited
