APPOINTMENT OF PIC CEO AND REAPPOINTMENT OF DIRECTOR OF THE FINANCIAL INTELLIGENCE CENTRE
Cabinet yesterday approved the appointment of Dr. Daniel Mmushi Matjila as the Chief Executive Officer (CEO) and Executive Director of the Public Investment Corporation (PIC) for five years commencing 1 December 2014 until 30 November 2019.
Cabinet also approved the reappointment of Mr. Murray Michell as Director of the Financial Intelligence Centre (FIC) for two years, effective from 1 January 2015 to 31 December 2016. The PIC and the FIC are among fifteen entities that report to the Ministry of Finance through governance arrangements that give them autonomy but also enable them to align their strategies with government policy.
Finance Minister Nhlanhla Nene said: "The FIC and the PIC are very important institutions in our country. The FIC's mandate is to protect the integrity of South Africa's financial system by ensuring it is safe from abuse by criminals. The PIC on the other hand manages funds on behalf of a number of state-related institutions, the largest being the Government Employee Pension Fund (GEPF), a responsibility the PIC has carried out well so far."
Minister Nene described Dr. Matjila as strategic thinker who has extensive knowledge of and experience in asset management and investment. He had also displayed strong management as well as leadership skills and abilities.
Dr Matjila joined the PIC in August 2003 and has been Chief Investment Officer since 2005. The previous CEO of the PIC resigned on 30 May 2014. Ms. Matshepo More, the Chief Financial Officer (CFO) has been acting as CEO.