SA Corporate appoints new executives

Posted On Wednesday, 27 May 2009 02:00 Published by
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Mariette Warner has been appointed as the managing director of SA Corporate. Mariette has 25 years experience in the property industry encompassing management of both physical and listed property, as well as fund management of third party listed property portfolios.

Zaida Adams has been appointed as the financial director of SA Corporate. Zaida has five years experience in the property industry. She started her career in properties at Allan Gray, before moving to Standard Bank as the financial manager of Fountainhead Property Trust. She holds a BCom (Hons) CA (SA).

The appointments follow the decision of former SA Corporate executives to decline relocation to Cape Town after an internal restructure of Old Mutual Investment Group Property Investments (OMIGPI) to centralise fund management. The creation of a centralised fund management team in Cape Town is fundamental to enhancing focus on performance for fund investors as each team will be focused on driving better investment performance. This, we believe, supports our growth strategy of achieving assets under management of R100 billion by 2015.

The board of SA Corporate Real Estate Fund is very pleased with the appointment of the new executives, Mariette and Zaida, as they have the necessary experience and expertise to turn the fortunes of the fund around.

The change in the fund’s executives impacts on the structure of the Board of the fund as well. These changes to the board reduce the number of executives on the board and result in an improved percentage in the independent directors, who now constitute 64% of the board. The Board is committed to ensuring that there is a majority of independent directors. These are positive steps forward in terms of King III. In addition, the appointment of Zaida Adams as a black female improves the gender and racial profile of the board.

Ben Kodisang, MD of Old Mutual Investment Group Property Investments expressed his thanks on behalf of the Executive team of Old Mutual Property Investments and the Board of SA Corporate Real Estate Fund to the outgoing executive directors and managers for their contribution over the years and for their willingness to support the transition, wishing them well for the future.

Publisher: eProp
Source: OMIGPI

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