PIC Boar appoints a new Chief Operating Officer and Chief Risk Officer

3 November 2020

The Board of the Public Investment Corporation (PIC) has confirmed the appointment of Mr Vuyani Hako as the new Chief Operating Officer (COO) for the PIC, effective from 1 November 2020.

Until now Mr Hako was the PIC’s Executive Head for Properties and has previously acted as CEO between March 2019 and July 2020.

The Board has also confirmed the appointment of Mr August van Heerden as the new Chief Risk Officer for the PIC. Mr Van Heerden will assume his duties at the PIC on 4 January 2021. He is the current Chief Risk Officer for the ABSA Group.

In order to strengthen governance and the executive management team, the Board continues with the recruitment process to appoint a Chief Investment Officer and a Chief Technology Officer.

Mr Hako holds a Master of Business Management and Administration, a Bachelor of Science in Town and Regional Planning and has completed the Executive Leadership Programme. He represents the PIC on a number of boards of investee companies as non-executive director.

Mr Abel Sithole, the PIC CEO said: “I am excited to welcome Mr Van Heerden to the PIC team. He has extensive experience in the financial services industry as a corporate finance executive, having worked at Nedbank, Standard Bank and Discovery Bank, amongst others.”

Mr Van Heerden holds a Bachelor of Accounting Science (Honours), a Bachelor of Commerce (BComm), a Diploma in Financial Markets and Instruments and an Advanced Diploma in Banking Law.

“I congratulate Messrs Hako and Van Heerden with their appointment and look forward to working with them in rebuilding institutional integrity and trust amongst of our people, our clients and key stakeholders, as the PIC reclaims its place amongst the best and esteemed,” said Mr Sithole.

Issued by PIC, 3 November 2020