SOUTH AFRICA - Non-executive director of South Africa's multi-manager Investment Solutions (IS), Leon Lewis, is to succeed Peet van der Walt who steps down as the firm's chairman in July 2002.
Van der Walt will continue to serve on the board of IS.
As part of a senior management reshuffle at Johannesburg-headquartered IS, Steven Braudo has also been promoted to managing director, with effect from July 2002.
Currently a deputy managing director of IS, Braudo joined the firm in 1997 and has been responsible for the group's operations.
He will succeed Rael Gordon, who transfers to IS's parent company, Alexander Forbes. Gordon will assume the role of executive director and will be responsible for Alexander Forbes’s African operations. Six months later he will succeed Graeme Kerrigan as the group chief executive, while remaining a non-executive director of IS.
Braudo said the move was announced early so that there could be continuity within the business.
We wanted all parties to be appraised of the changes timeously and it is important that we have a smooth management transition”, he said.
“The task that lies ahead for the management team is to grow Investment Solutions to its next phase of development.
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