MOMENTUM Metropolitan announced the appointment of Paul Baloyi as chairman of the group’s board assuming the role a from July 1.
MOMENTUM Metropolitan (MMI) yesterday announced the appointment of Paul Baloyi as chairman of the group’s board assuming the role a from July 1.
Chairman Peter Cooper would remain the interim chairman until then, said the financial services firm, which is valued at R26.45 billion.
Cooper said, “Paul is an ideal candidate as chairman of MMH; and we look forward to working with him. He brings to the table a decisive quality that aligns with our re-energised Reinvent and Grow strategy. Besides being highly respected in the financial services sector, Paul also has a strong and insightful understanding of the need for client excellence in a competitive retail environment. I am excited to welcome him to the Momentum Metropolitan family”.
Baloyi is to lead MMI, which last month delivered a robust set of results as it posted normalised headline earnings of R1.5bn for the six months ended December 2021, 51 percent higher than the prior period.
Baloyi has vast financial services business expertise, said MMI, and of note served as the chief executive of the Development Bank of Southern Africa.
Since his departure from the DBSA in 2012, his board roles had varied across the private and public sectors. Insurance sector experience has been gleaned from board service at a number of insurers, MMI said.
Since his departure from the DBSA in 2012, his board roles had varied across the private and public sectors. Insurance sector experience has been gleaned from board service at a number of insurers, MMI said. - Philippa Larkin