Thabo Dloti, current CEO of Stanlib will take over as CEO of Liberty Holdings, while current Liberty chief executive Bruce Hemphill moves to an executive position at Standard Bank group.
Steven Braudo, current CEO of Liberty Retail SA has been appointed deputy CEO of Liberty Holdings, and Seelan Gobalsamy is to succeed Dloti as chief executive of Stanlib.
Liberty said in a statement that the appointments, which would be effective 1 March 2014, formed part of a carefully considered succession plan that would transition the company into its next phase of growth and expansion.
“Bruce leaves Liberty in a very strong position with the 2013 financial results being the best that the business has produced in the past 10 years. Bruce successfully steered the organisation through the global financial crisis and led the organisation on a path of extensive transformation and growth while delivering significant value to shareholders,” said Liberty Holdings chairman, Saki Macozoma
Dloti has over 20 years of experience in retail insurance, asset management and employee benefits businesses. He joined Liberty in March 2010 to lead Liberty’s institutional businesses comprising Stanlib, Corporate and Properties. He has also been appointed as chairman of the Stanlib board of directors.
Braudo has over 20 years of experience in the insurance and investment industry. He joined Liberty in June 2009 to lead the Retail SA insurance business. He has also been appointed to the Stanlib board of directors.
“I would like to take this opportunity to thank Bruce for his leadership in successfully transforming Liberty into an organisation that has delivered considerable value to shareholders. I am confident that Thabo and Steven will take the organisation to the next level of growth,” concluded Macozoma.