Johannesburg - A Nedbank spokesperson has accidentally confirmed that Sipho Pityana has resigned as the executive director at Nedcor Investment Bank, where he had been in charge of strategic business development in Africa.
However, she later said she had been told that Nedbank was not in a position to confirm the rumour.
Pityana is likely to join Izingwe, an empowerment arm of electronics group Altron. He is also chairman of Laetoli Investments and a non-executive director of Spescom.
He was not available for comment.
Last week Pityana held a public presentation on the bank's empowerment deals, saying that in the past three years Nedbank had provided more than R7.5 billion in debt finance for such deals and had invested over R500 million in acquiring strategic stakes in empowerment groups.
Pityana's departure follows on the heels of Nedcor's results, which showed a massive slide to a R1.6 billion loss from a R875 million profit the year before.