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Ashburton Investments appoints new CEO

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Sizwe Nxedlana has been appointed CEO of Ashburton Investments, the asset management arm of FirstRand Group, with immediate effect.

Sizwe replaces former CEO, Boshoff Grobler, who last month moved to a new role in FirstRand Group Treasury.

 
Nxedlana has been with FirstRand Group for more than a decade, previously as First National Bank’s chief economist and most recently as CEO of FNB’s wealth and investment activities. Nxedlana remains CEO of FNB’s Wealth and Investments business, which has made good progress in leveraging FNB’s platform capabilities, which aim to deliver the right investment solutions through better understanding customer needs and requirements.
 
FirstRand COO, Mary Vilakazi, says: “Asset management is an important component of FirstRand’s portfolio diversification, particularly the building out of its invest-and-save strategies. Sizwe is a very experienced financial markets professional and, given his track record, is well placed to drive Ashburton Investments’ next growth phase.
 
Commenting on his new role, Nxedlana said his focus will be on working with the existing teams to scale Ashburton Investments by leveraging more of FirstRand Group’s capabilities.
 
“Integrating our investment capabilities through a single investment process and unified digital platform will be an important focus for both FNB Wealth and Investments and Ashburton Investments. We will continue to streamline the investment processes through both businesses by managing existing and new investment portfolios to achieve promised client outcomes, winning new mandates and ensuring continued growth in assets under management,” says Nxedlana.

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