Carel Vosloo will join Rand Merchant Bank’s (RMB) corporate and institutional executive committee.
Monday 18, March 2019
(Bloomberg) --Carel Vosloo will step down as Investment Banking Co-head at FirstRand’s Rand Merchant Bank to focus other initiatives in the business.
Vosloo, who has been in the role for almost six years, will step down at the end of September after relocating to Cape Town. Emrie Brown will continue to manage the business as the sole head, Brown has been with RMB for about 18 years.
Earlier this week, RMB said the Co-heads of its Corporate-Finance unit, Craig Forbes and Puso Manthata, would also leave their positions in coming months, with new management expected to be appointed by the start of the lender’s new financial year in July.
The lender said that Vosloo, who according to the company’s website joined RMB in 2004, will continue to engage with key clients.
Like other lenders, RMB is battling slower corporate activity in its home South African market and is turning to other countries in the rest of Africa to drive growth, FirstRand Group said.
RMB has business presence in nine other nations, including Nigeria, Zambia and Kenya, as well as India and China.