Metropolitan Holdings Limited - New MD for Metropo
Metropolitan Holdings Limited - New MD for Metropolitan Asset Managers
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`)
New MD for Metropolitan Asset Managers
Superior investment performance and effective customer service is critical to
Metropolitan`s success as a leading financial services provider. To achieve this
objective, the group has been restructuring its asset management arm.
In addition to the structural changes that have already been made, the
appointment of Abel Sithole, group executive director and head of corporate
business, as the new managing director of Metropolitan Asset Managers was
announced today. Sithole`s new responsibilities are over and above those
relating to his existing portfolios.
Group chief executive Peter Doyle says the group`s decision to appoint an
executive director to this role is confirmation of its ongoing commitment to
performance excellence.
Former managing director Philip Morrall has been tasked with establishing and
heading up an asset consulting function on behalf of the Metropolitan group.
Sithole`s appointment is the final step in the restructuring of top management
at MetAM, undertaken specifically to improve the latter`s investment
performance.
Liston Meintjes assumed the position of chief investment officer earlier this
month while Carstens Mphelo, currently head of marketing at MetAM, has taken
over as the company`s chief operational manager with effect from 1 June. Both
Meintjes and Mphelo report directly to Sithole.
As head of corporate business, with MetAM and Metropolitan Employee Benefits as
its largest components, Sithole is ideally positioned to cement the close ties
between the two and to capitalise on the new business opportunities that their
common client base affords them.
`Helping MetAM to attain its single most important objective, that of highly
competitive investment performance, is a logical extension of my current role. I
am greatly looking forward to being able to devote more time and attention to
achieving it,` says Sithole.
Date 3 June 2005
Enquiries
Peter Doyle
Group Chief Executive
Metropolitan Holdings Limited
Tel 021 9405681
Abel Sithole
Chief Executive: Corporate Business
Metropolitan Holdings Limited
Tel 021 9406478
Date: 03/06/2005 04:00:03 PM
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