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ALEXANDER FORBES GROUP HOLDINGS LIMITED - Resignation of Group Chief Financial Officer and executive changes

Release Date: 03/02/2017 11:00
Code(s): AFH     PDF:  
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Resignation of Group Chief Financial Officer and executive changes

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” or “the Company” or “the Group”)

RESIGNATION OF GROUP CHIEF FINANCIAL OFFICER AND EXECUTIVE CHANGES

In compliance with the JSE Limited Listings Requirements,
Alexander Forbes announces the resignation of Group Chief
Financial Officer Mr Deon Viljoen, with effect from 30 April 2017.
Mr Viljoen leaves the Group after 14 years’ service, in order to
pursue other opportunities.

Mr Bruce Bydawell will assume the position of acting Group Chief
Financial Officer.

The Company also announces the retirement of Mr Peter Edwards,
Managing Director of Institutional Financial Services, with effect
from 31 March 2017. Mr Edwards has agreed to stay with the Group
as a senior adviser post his retirement, so as to provide counsel
as needed while the Company executes on its single institutional
strategy.

Extensive searches are underway to identify suitable candidates
for the roles of Group Chief Financial Officer and MD of
Institutional Clients and further announcements will be made in
due course. Alexander Forbes is committed to appointing first
class leaders commensurate with the standing of the Group.

The Board thanks Mr Viljoen for 14 years of committed service to
the Group. Mr Andrew A. Darfoor, the Group Chief Executive,
advises that Mr Viljoen has decided to pursue a new role outside
the Group. “The Alexander Forbes Board is most grateful to Deon
for his contribution over the years. He leaves with my best wishes
and that of the Board,” said Mr Darfoor.

Mr Darfoor also thanks Mr Edwards for the contribution he has made
to Alexander Forbes for the past 21 years. “Peter has been an
integral member of the executive team for a number of years and we
are delighted that he has agreed to stay on post his retirement as
a senior advisor, to provide counsel as needed, as we execute on
our single institutional strategy” said Darfoor.

Mr Darfoor continued: "The strategy we announced in September 2016
is underpinned by the simplification of our operating model and a
focus on delivering an integrated value proposition to our clients
through 3 clear business lines – Institutional clients, Retail
clients and Emerging Markets clients. This strategy will focus and
help us accelerate our execution and delivery capability in
building a Pan-African financial services leader. We are making
strong and decisive progress with the full backing and support of
our Board. In the interim, I will also act as Head of the
Institutional clients division effective April 1.”

3 February 2017
Sandton

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

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