Derrick Msibi is appointed CEO of Liberty Asset Management Cluster & STANLIB SA
30 Mar 2017
Liberty Group announces the appointment of Derrick Msibi as CEO of Liberty Asset Management Cluster and STANLIB South Africa with effect from 1 May 2017.
Derrick has 17 years' experience and a proven track record in the asset management industry, ranging from a portfolio manager in the alternatives asset class to the managing director of the largest multi-manager in South Africa. He will be a great asset to Liberty's strategic journey with regard to attaining our Strategy 2020 objectives. Derrick's responsibilities will be to drive strategy and provide leadership to the combined LibFin and STANLIB teams. Derrick will be a member of the STANLIB Board and the Liberty Group Executive Committee.
Derrick joins from the Alexander Forbes Group where he held the positions of Managing Director of Investment Solutions and Joint Head of the Institutional Businesses. Over an eight year tenure, Derrick had a number of achievements including driving profits above target, implementing strategic change initiatives to enhance efficiencies and supporting new business. He continues to make valuable contribution to selected Boards and public organisations including ASISA Enterprise Development (SME) Fund and TSIBA Education. Prior to Investment Solutions, Derrick held senior positions at Old Mutual for over a decade. Derrick has a deep understanding of investment management, employee benefits and insurance.
Following his appointment Derrick said:
"This is an exciting time to be joining STANLIB as the business enters its next phase of growth in line with its strategic intent. STANLIB has a renowned multi-specialist investment capability and has expanded its capabilities to offer a breadth and depth of investment expertise, which positions it well to deliver on customer needs. I look forward to working with the management team to take this great business forward."
Derrick will be supported by the strong and established STANLIB executive team. Seelan Gobalsamy takes over the role of CEO for Emerging Markets of Liberty Group which includes STANLIB Africa. He will remain on the STANLIB Board to ensure continuity and support for Derrick.
Commenting on Derrick's appointment CEO of Liberty Group and Chairman of STANLIB, Thabo Dloti said:
"We are pleased with the appointment of Derrick who is a seasoned and well-respected industry professional whose track record speaks for itself. We are confident that he is the right person, together with the strong existing management team, to take this business to the next level in our quest to become the leading financial services company in Africa and our other chosen markets."
For further information, please contact:
Liberty Group Head of Communications
Tel no: +27 (0) 11 408 4015