South Africa’s largest fund manager looking for new CEO
South Africa’s Public Investment Corp., which manages R3 trillion of assets, says it’s seeking a chief executive officer with the incumbent poised to retire next year.
Abel Sithole’s term ends in July, the fund manager said in an statement on Thursday.
PIC’s assets rose 3.6% in the year that ended March 31 and crossed a key threshold on Sept. 26, Chief Investment Officer Kabelo Rikhotso told reporters earlier this month.
The PIC’s profit climbed 22% to 271 million rand in the year to end-March, boosted by the performance of its foreign, unlisted and fixed-income portfolios, the PIC said in a statement.
PIC will publish an advertisement calling for applications for the post this weekend, the asset manager said.
Comments