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Momentum Metropolitan Holdings Limited Board of Directors

Momentum Metropolitan is committed to the highest standards of corporate governance as evidenced by its ongoing efforts to comply with the principles of King IV, including the composition of its board. Board deliberations are enriched by the diversity of skills and experience of its members.

Executive Directors

Hillie Meyer

Group Chief Executive Officer

Academic qualifications:

BCom (Econometrics), Fellow of the Institute of Actuaries

Committee membership:

SETC and RCC

Experience:

Hillie Meyer joined MMI Holdings on 15 February 2018. Prior to this, Hillie was the Managing Partner of Nodus Investment Managers, a niche private equity manager he co-founded in 2010. He retired as the Managing Director of the Momentum Group in 2005, a position he held for nine years. Before that, he had exposure to a wide range of actuarial and management positions in the Momentum Group which he joined in 1988. He also worked for Volkskas Pension Services (from 1985 to 1987) and Old Mutual (from 1983 to 1985).

Appointed to board: February 2018

Jeanette Cilliers (Marais)

Deputy Chief Executive Officer

Academic qualifications:

B.Sc. (Mathematics and Statistics), MBA (With Honours)

Committee membership:

No commitee appointment

LinkedIn

Experience:

Jeanette Cilliers joined MMI Holdings on 1 March 2018 as Deputy Chief Executive Officer and CEO of Momentum Investments. Her portfolio also includes marketing of the MMI Holdings Group of companies, as well as distribution through independent financial advisers. Jeanette was previously an executive director at Allan Gray and has extensive knowledge of the retail investments market, intermediary distribution and operational aspects of retail asset management. Jeanette started her career at Momentum in 1990 to 1999, responsible for sales and marketing for the group and Momentum Administration Services. She filled executive level positions at Stanlib and Old Mutual before joining Allan Gray in 2009.

Appointed to board: March 2018

Risto Ketola

Group Finance Director

Academic qualifications:

BSc, CFA Charterholder, Fellow of the Institute of Actuaries

Committee membership:

AC and Investments Committee

LinkedIn

Experience:

Risto Ketola joined MMI Holdings in August 2016 to head up investor relations and business performance management. In this position, Risto was responsible for the investor relations function as well as the design, approval, monitoring, and reporting of balanced scorecards at various levels for the group. He has extensive experience as a financial services analyst and researcher with Standard Bank, Ketola Research and Deutsche Bank. As MMI Holdings Group Finance Director, Risto is responsible for Investor Relations, Business Performance, Group Reporting, Finance Group-wide Services, Mergers and Acquisitions and Balance Sheet Management.

Appointed to board: January 2018

Non-executive Directors

Johnson ("JJ") Njeke

JJ Njeke

Chairman Non-executive Independent

Academic qualifications:

BCom, BCompt (Hons), CA(SA), HDip Tax

Committee membership:

NOMCO

Experience:

JJ Njeke, a chartered accountant, spent six years as audit partner at PricewaterhouseCoopers prior to his appointment as managing director of Kagiso Trust Investments on 1 June 1994. He remained in this position, serving on various boards in the Kagiso group, until his resignation on 30 June 2010. He is presently the executive chairman of Silver Unicorn Coal and Minerals (Pty) Limited. He serves on the boards of Black Management Forum Investments ("BMFI"), Datatec, Delta Property Fund and Sasol Limited.

Appointed to board: December 2010

Fatima Daniels (Jakoet)

Non-executive director
Independent

Academic qualifications:

BSc, CA(SA)

Committee membership:

AUDIT and RCC

Experience:

Fatima Daniels currently conducts her own consulting business. She has extensive corporate experience and has served on many listed boards since 1994. She previously served on the Metropolitan Holdings Board (May 1996 to November 2001). She is currently a director of the MTN Group (West and Central Africa Region), Clicks Group Limited, Tongaat Hulett Limited, Afrisam Holdings (Pty) Limited and Rand Refinery Limited.

Appointed to board: December 2010

Prof Stephen Jurisich

Prof. Stephen Jurisich

Non-executive director
Independent

Academic qualifications:

BScHons Actuarial Science, FASSA, FFA

Committee membership:

AC and FPC

LinkedIn

Experience:

Prof Stephen Jurisich is the Head of the School of Statistics and Actuarial Science at the University of Witwatersrand. He is a Fellow of the Faculty of Actuaries in Edinburgh and Fellow of the Actuarial Society of SA. He has a wealth of actuarial experience, including previously being a director and consulting actuary at Quindiem Consulting, an executive committee member at Swiss Re Life Health in South Africa as well as being a member of various industry and actuarial professional committees.

Appointed to board: October 2016

Niel Krige

Non-executive director Independent

Academic qualifications:

MCom; FIA (London); AMP (Harvard)

Committee membership:

AC

Experience:

Prof Niel Krige has over 30 years experience in the life insurance and asset management industries. He was managing director of Momentum Life from 1988 to 1994, deputy chairman of the Momentum Group from 1995 to 2003 and chairman of the Life Offices Association from 2001 to 2002. His current positions include:- professor: University of Stellenbosch Business School; Chairman: Development and Alumni Relations, University of Stellenbosch; director: Momentum Investments; chairman: Board of Trustees Denel Retirement Fund.

Appointed to board: November 2011

Jabu Moleketi

Non-executive director
Independent

Academic qualifications:

AMP (Harvard), MSc in financial economics (University of London), post-graduate diploma in economic principles (University of London)

Committee membership:

REMCO and SETC

Experience:

Jabu Moleketi is non-executive chairman of Brait SA, the Development Bank of South Africa, Vodacom and PPC Limited. He is a former Deputy Minister of Finance (2004-2008) and former MEC of Financial and Economic Affairs in the Gauteng Provincial Government (1994-2004). He is a director of several companies listed on the JSE Limited.

Appointed to board: December 2010

Vuyisa Nkonyeni

Non-executive director
non-independent

Academic qualifications:

BSc (Hons); CA(SA)

Committee membership:

RCC and Investments Committee

LinkedIn

Experience:

Vuyisa Nkonyeni has more than 20 years’ experience in investment banking and private equity. He is a chartered accountant, having served his training contract with PricewaterhouseCoopers. Upon leaving PricewaterhouseCoopers, he joined Deutsche Bank in 1997, where he gained investment banking experience primarily in corporate and project finance advisory work over a four-year period. Previously, he served as the financial director of Worldwide African Investment Holdings (Pty) Limited and as director at Actis LLP in their black economic empowerment funding unit. He was appointed as chief executive officer of Kagiso Tiso Holdings in January 2012 and resigned on 31 December 2017 to pursue various private business opportunities. He also serves on the boards of Emira Property Fund and Exxaro Resources.

Appointed to board: November 2011

Khehla Shubane

Non-executive director
Independent

Academic qualifications:

BA (Hons), MBA

Committee membership:

SETC and FPC

Experience:

Khehla Shubane is currently an independent policy analyst and consultant. He was employed at the BusinessMap Foundation, a monitoring and research organisation focusing on black economic empowerment. He has also worked for the Nelson Mandela Foundation as chief executive officer. He was a member of the Soweto Civic Association, a body that represented the local community in opposition to the then official local government institutions. He is currently a director of Nurcha (NPC).

Appointed to board: December 2010

Frans Truter

Non-executive director
Independent

Academic qualifications:

BCom (Hons), CA(SA), AMP (Oxford)

Committee membership:

AUDIT, REMCO, RCC and NOMCO

LinkedIn

Experience:

Frans Truter was an associate director at Deloitte and worked at the South African Reserve Bank. He joined Momentum in 1988 as chief financial officer and over the years he has been involved with the transactions to acquire Lifegro, Southern Life, Sage, and Sovereign Health. He also served as executive director of strategic investments at Momentum. He resigned as a Momentum Group executive in 2007. He is currently involved in private equity investments and serves as a non-executive director on the boards of a number of companies.

Appointed to board: December 2010

Johan van Reenen

Non-executive director
Independent

Academic qualifications:

BSc (Hons), MBA

Committee membership:

REMCO and RCC

Experience:

Johan van Reenen is currently an executive director of Imalivest. He has a wealth of expertise and experience in investment banking and asset management, both locally and internationally.

Appointed to board: December 2010

Peter Cooper

Non-executive director
Independent

Academic qualifications:

B Com (Hons) (UCT) and an H Dip Tax Law (Wits)

Committee membership:

REMCO, RCC, Investments Committee and NOMCO

Experience:

Peter Cooper, a qualified Chartered Accountant, previously served as the Chief Executive Officer and Financial Director of RMB Holdings Limited (RMH) as well as Rand Merchant Investment Holdings Limited (RMI), until 2014. He is currently a non-executive director of RMH, RMI, OUTsurance and Imperial Holdings.

Appointed to board: November 2015

Lisa Chiume

Non-executive director

Academic qualifications:

BCom Business Finance and Economics, CFA (Level 3 Candidate)

Committee membership:

Audit Committee; Fair Practices Committee (FPC); Investments Committee

Experience:

Lisa Chiume is a senior investment executive at Rand Merchant Investment Holdings (“RMIH”) and RMB Holdings Limited. As portfolio manager, she is responsible for a number of the key RMI investments. She is also co-portfolio manager for AlphaCode (RMI’s fintech and next generation financial services incubator) and she has primary responsibility for RMI’s enterprise development programme to identify, partner and grow black financial services businesses.

Prior to RMI, Lisa was employed by Deutsche Bank South Africa as Director, Country Coverage and Investment Banking.

Appointed to board: March 2019

Dr Sharron McPherson

Non-executive director
Independent

Academic qualifications:

BA (Economics); Doctorate of Jurisprudence

Committee membership:

Social, Ethics and Transformation Committee (SETC)

Experience:

Dr Sharron McPherson is co-founder and executive director at The Centre for Disruptive Technologies which leverages an impressive Africa-wide and global network of experts in disruptive technologies to advise government and businesses on digital transformation strategies. In addition, she is an Adjunct Senior Lecturer – Project Finance at the University of Cape Town – Graduate School of Business.

She is also a co-founder & shareholder of an investment consortium, Women in Infrastructure Development & Energy (WINDE). WINDE is one of the largest and most impactful women’s infrastructure investment consortiums in Africa.

Appointed to board: March 2019

Sello Moloko

Non-executive director
Independent

Academic qualifications:

B.Sc (Honours); PGCE (University of Leicester); AMP (Wharton)

Committee membership:

Nominations Committee; Investments Committee

Experience:

Sello Moloko is the Executive Chairman and co-founder of Thesele Group, a Black owned investment holding company. He has more than 27 years of business experience. He is the independent non-executive Chairman of Sibanye-Stillwater and non-executive director of Telkom, Stor-Age REIT and Prudential Investment Managers.

He was previously Chairman of Alexander Forbes Group and General Reinsurance Africa, and CEO of Old Mutual Asset Managers.

Appointed to board: March 2019

Linda de Beer

Non-executive director
Independent

Academic qualifications:

Chartered Director (SA); CA(SA); MCom (Tax); B.Com (Accounting) (Honours)

Committee membership:

Audit Committee and Risk, Capital and Compliance (RCC) Committee

Experience:

Linda de Beer is a Chartered Accountant SA, a Chartered Director SA and holds a Master’s degree in taxation. She is an independent non-executive director, serving on the boards and audit committees of three other South African listed companies.

Linda provides reporting and corporate governance advice to various corporates, does mediation on technical reporting, auditing and governance matters, facilitates training and performs expert witness work on accounting and audit matters, from time to time. She is a member of the King Committee, the Investor Advisory Group of the Public Company Accounting Oversight Board (PCAOB) in the United States of America and chairs the Financial Reporting Investigations Panel of the JSE, amongst others. She is an honorary professor (professor in practice) at the University of Johannesburg.

Appointed to board: March 2019

Kgaugelo Legoabe-Kgomari

Kgaugelo Legoabe-Kgomari

Non-executive director
Non-independent

Academic qualifications:

B.Com (cum laude); CFA Charterholder

Experience:

Kgaugelo Legoabe-Kgomari serves as a Director of Investments at Kagiso Tiso Holdings Proprietary Limited (“KTH”) where she is responsible for several investee companies within the KTH portfolio. Kgaugelo has extensive experience in private equity and investment banking. Prior to joining Kagiso Tiso Holdings, she served as a deal maker in the investment banking division of Rand Merchant Bank and later joined Ethos Private Equity. Kgaugelo is a member of the CFA Institute.

Appointed to board: June 2019

Group Company Secretary

Gcobisa Tyusha

Gcobisa Tyusha

Group Company Secretary

Academic qualifications:

BCom; Postgraduate Diploma in Business Management; Programme in Strategic Management and Corporate Governance

Experience:

Gcobisa Tyusha completed her articles at Deloitte. She has over 20 years’ experience in Company Secretariat and Governance, in the Financial Services industry. She has worked in development finance, banking and insurance companies.

Appointed: July 2019

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