18 January 2016
In terms of the strategic agreement concluded between UB and Sanlam in 2014, UB is entitled to nominate three members to the Boards. Dr Van Zyl’s appointment is effective from 18 January 2016.
Welcoming Dr Van Zyl to the Board, Sanlam Limited Chairman, Mr Desmond Smith said: “We are pleased to welcome Johan back to the Board, this time in his capacity as a representative of our partners, Ubuntu-Botho. We look forward to his contribution to the Board where we expect that he will add considerable value.”
Further, Sanlam has announced the establishment of Sanlam Corporate, a business cluster that will support the delivery of an enhanced and integrated offering to the Group’s corporate clients in South Africa and ultimately to the rest of the African continent.
Sanlam has appointed Mr Junior Ngulube as the Chief Executive Officer (CEO) of the newly formed Sanlam Corporate cluster. He joins Sanlam from Munich Reinsurance Company of Africa where he was the CEO of their sub-Saharan operations since 2007 following a career that spanned 28 years in various positions within the Munich Re group.
Ngulube will take up his position from 01 February 2016 and will be a member of the Sanlam Executive Committee.
Currently, Sanlam operates through four business clusters: Sanlam Emerging Markets, Sanlam Investments, Sanlam Personal Finance and its short term insurance subsidiary, Santam.
Through Sanlam Corporate, Sanlam will be in a position to offer companies a holistic corporate solution for them and their employees. This solution includes life insurance, general insurance, investments, health insurance, retirement, financial planning and advice for staff. Sanlam Corporate will collaborate and maintain strong links with the other four business clusters to ensure that Group delivers the holistic solution seamlessly.
Commenting on the establishment of Sanlam Corporate, Sanlam Group CEO, Mr Ian Kirk, said the new cluster was in line with Sanlam’s overarching strategy and it is a logical development for the Sanlam business.
“Currently Sanlam has a substantial corporate business with clients who mainly operate in South Africa. As we grow and strengthen this part of our business and as we build our footprint across the African continent, we need to focus on developing deeper and new relationships with corporates and their advisors and we need the relevant management and leadership skills to achieve our objectives,” Mr Kirk said.
“Across the continent corporates are expanding their operations and they seek holistic financial solutions in improving their operational efficiency. Sanlam corporate will drive our support to these organisations.”
Mr Ngulube holds a Bachelor of Science in Agriculture (Honours) from the University of Zimbabwe, a Master of Science in Agriculture from the Pennsylvania State University (U.S.A.), as well as a post graduate Diploma in Financial Management from Damelin College in South Africa.
He has achieved various industry qualifications and attended various courses at business schools in South Africa, the United States, Singapore and France.
“Junior brings a wealth of experience in financial services which he gained at one of the largest reinsurance companies in Africa,” said Mr Kirk.
“He has great insurance expertise in South Africa and the rest of Africa. We are confident that he is well qualified to lead the formation of the Sanlam Corporate business cluster and to grow it into a formidable part of the Group’s operations. We welcome him to Sanlam and look forward to his contribution,” Mr Kirk concluded.