ALEXANDER FORBES GROUP HOLDINGS LIMITED - Changes to the board of directors: Andrew Darfoor appointed Group Chief Executive of Alexander Forbes

Changes to the board of directors: Andrew Darfoor appointed Group Chief Executive of Alexander Forbes

ALEXANDER FORBES GROUP HOLDINGS LIMITED
Incorporated in the Republic of South Africa
(Registration number: 2006/025226/06)
JSE Share Code: AFH ISIN: ZAE000191516
(“Alexander Forbes”)

CHANGES TO THE BOARD OF DIRECTORS

Andrew Darfoor appointed Group Chief Executive of Alexander Forbes

The board of directors announced today that Andrew Darfoor has
been appointed Group Chief Executive of Alexander Forbes, with
effect from 1 September 2016.

Sello Moloko, Executive Chairman of Alexander Forbes, says Darfoor
was appointed following an extensive executive local and
international search to identify a suitable candidate who will
steer the group towards its next growth phase as a leading
financial services group in South Africa and in the rest of
Africa.

“We are pleased that following an extensive search during which an
impressive list of talented candidates were interviewed, the board
has selected Andrew Darfoor as Group Chief Executive. Andrew is a
high calibre leader with global financial services experience and
a track record of strategic business growth. We are confident
that he will work well with his executive management team to
provide the leadership needed to successfully implement the
strategic transformation of Alexander Forbes,” says Moloko.


Upon Darfoor’s appointment and also with effect from 1 September
2016, Sello Moloko reverts to his role as Non-Executive Chairman.
Deon Viljoen, having not made himself available for consideration
of this role, resumes his position as Group Chief Financial
Officer. Moloko said, “I wish to express the board’s sincerest
appreciation to Deon for his commitment and strong leadership
during the transition period.”

Darfoor says he is deeply honoured to have been given the
opportunity to lead Alexander Forbes, which he describes as a
truly iconic and globally distinctive African financial services
company with a proud 81 year heritage and tremendous future
prospects.

“With consumers taking a deeper interest in their personal well-
being, Alexander Forbes is well positioned to meet this need with
an integrated proposition across retirement, wealth management,
investments, health and protection advice and solutions. I very
much look forward to working with the Alexander Forbes team and
all Alexander Forbes stakeholders as we continue to pursue and
execute this vision,” says Darfoor.

Darfoor has over 20 years’ experience in the financial services
sector gained in countries such as Bermuda, Canada, Switzerland,
the United States and the United Kingdom. Previously, he was Chief
Executive Officer at Sun Life Financial International, a division
of Sun Life Assurance Company of Canada, leading a division
providing life insurance, protection, savings and wealth
management solutions across 50 countries in Asia, Middle
East/Africa, Europe and the Americas managing circa $15 billion in
assets.

Prior to this, Darfoor held a number of senior leadership roles at
Old Mutual Plc, where he was President and Chief Executive Officer
of Old Mutual (Bermuda) Ltd., and oversaw all aspects of the
business, including sales, marketing, investments, HR, finance,
actuarial and operations. Darfoor joined Old Mutual Plc as
Regional Financial Controller for the North American businesses in
October 2007 and was appointed Chief Operating Officer for the
Bermuda business in March 2009 before assuming the CEO position in
March 2010. He also previously held international management
positions focused on strategy and business development at Credit
Suisse AG, UBS AG and Ernst & Young LLP.

Darfoor received a B.Sc. in Economics from Queens Mary College,
University of London and an MBA from Cranfield School of
Management, UK. He has also completed executive management
programmes at Harvard (US) and Insead (France) Business Schools.
Andrew is an Associate of the Institute of Chartered Management
Accountants, holding the ACMA and CGMA designations and is a
member of the Securities and Investment Institute (UK). Darfoor is
a citizen of the United Kingdom and has received his 90 day work
permit and his long term work visa is expected to be issued during
this period.

24 August 2016
Sandton

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

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