Stanlib chief working officer (COO) and former Alexander Forbes heavyweight Ntobeko Nyawo has been scooped up by JSE-listed Redefine Properties to grow to be its new finance chief.
Redefine, certainly one of South Africa’s prime 5 largest actual property funding trusts (Reit) by market cap, introduced the appointment in a Sens statement on Monday.
Nyawo, who will tackle the CFO function with impact from March 1, 2021, will grow to be the group’s first black government appointment. Nevertheless, Redefine boasts one of the vital remodeled boards amongst its Reit friends, with six members of its present 10-member board being black below the Black Financial Empowerment codes.
All six are non-executive members of the board, together with group chairperson Sipho Pityana. However Nyawo’s appointment will see him additionally turning into an government director on the board.
“A seasoned government and CA with over 16 years’ expertise, Ntobeko joins from Stanlib, the place he presently serves as chief working officer [COO)]. Previous to that, he was CFO of Alexander Forbes Rising Markets, accountable for driving African growth in partnership with the CEO,” Redefine famous in a media assertion on Tuesday.
Pityana stated that the group was delighted to welcome Nyawo to the workforce.
“His depth of expertise as a finance and funding government, on audit and threat committees and in key transformational roles, together with within the migration to digital channels, makes him a perfect candidate so as to add important worth to the core management of our enterprise,” he famous.
Following David Rice’s retirement as COO in August this yr, Nyawo’s appointment will unencumber Leon Kok [Redefine’s outgoing CFO] to take over as COO “at an important time.”
“Leon’s depth of expertise in finance and property and his management will assist take us ahead as we chart an thrilling new path, whereas navigating ongoing financial volatility,” added Pityana.