Jeanette Marais will be the new group CEO of Momentum Metropolitan from 1 August 2023.
Marais joined the group in 2018 as Deputy Group CEO, overseeing Momentum Investments, Momentum Distribution Services, Consult by Momentum and Momentum Mone.
Under head leadership, the normalised headline earning of Momentum Investments increased from R271 in the 2018 financial year (FY2018) to R940 million in FY2022.
Additionally, over the last five years, the value of new business increased from R80 million to R346 million.
She has an Executive MBA from the International Institute for Management Development (IMD) in Switzerland and has decades-long experience in the South African financial services industry.
She will replace Hillie Meyer, who was appointed in 2018 for a fixed term of five years. Meyer will retire on 30 September following a brief handover period.
“After undergoing a rigorous, robust and thorough selection process, Jeanette emerged as the best candidate,” Paul Baloyi, Chairperson of Momentum Metropolitan, said.
“I am pleased that this appointment represents a significant breakthrough in diversity, and I am proud that we found the best person for the job inside our company. This ensures leadership continuity and a continued focus on strategy execution.”
“She truly understands the current industry environment, the unique set of demands on the business and what is required for the business to succeed. It is a challenging operating environment, and Jeanette’s passion, energy and focus on doing what is best for the group set her up well to continue the company’s growth trajectory.”
Marias said it is a privilege to take the helm of the company.
“This is full circle for me; Momentum provided the very first growth and leadership opportunities in my career. I am honoured that I get the chance to give back and lead this company that is so close to my heart.”
“I am excited to further work with the leadership team to harness the company’s strong brands and talented people and execute our growth plans successfully.”
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