https://www.engineeringnews.co.za
Financial|Services|Technology
Financial|Services|Technology
financial|services|technology

PIC Board appoints new COO and CRO

4th November 2020

By: African News Agency

  

Font size: - +

The Public Investment Corporation (PIC) board of members has on Tuesday confirmed the appointment of their new chief operating officer (COO) and chief risk officer (CRO).

Vuyani Hako, who previously served as acting CEO between March 2019 and July 2020, was appointed as the new COO. Hako was the PIC’s executive head for properties and assumed his role as COO from the beginning of November.

The board has also welcomed August Van Heerden who will be serving as Chief Risk Officer as of January 2021. Van Heerden is currently the CRO for the ABSA group.

The PIC is a state owned entity (SOE) with more than R2-trillion (around $150 billion) in assets under management, according to the recent data.

“I congratulate Messrs Hako and Van Heerden with their appointment and look forward to working with them in rebuilding institutional integrity and trust amongst our people, our clients and key stakeholders, as the PIC reclaims its place amongst the best and esteemed,” said CEO of the PIC, Abel Sithole, in a statement on Tuesday.

Hako boasts an MBA as well as a Bachelor of Science Degree in Town and Regional Planning. He also represents the PIC on a number of boards of investee companies as a non-executive director.

Van Heerden holds a Bachelor of Accounting Science (Honours) and a Bachelor of Commerce as well as several other diplomas in the financial sphere.

Sithole lauded Van Heerden for his vast knowledge in the financial industry given his time spent at major South African Banks.

“I am excited to welcome Mr Van Heerden to the PIC team. He has extensive experience in the financial services industry as a corporate finance executive, having worked at Nedbank, Standard Bank and Discovery Bank, amongst others,” Sithole said.

The board also said they will continue the recruitment process in order to appoint a new chief investment officer and a chief technology officer, in order to strengthen the executive management team and ensure better governance.

Edited by African News Agency

Comments

Showroom

Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 
Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.101 0.154s - 176pq - 2rq
Subscribe Now