Sizwe Nxedlana (pictured) will move internally at FirstRand Group to become chief executive of the firm’s asset management business, Ashburton Investments.
Nxedlana takes up the role following the departure of Boshoff Grobler last month, who also remains within the group but in a treasury role at the South African parent company.
Ashburton Investments has offices in the UK and Channel Islands and has over £5.8 billion (€6.5 billion) in assets under management.
Nxedlana has spent over ten years at FirstRand Group, most recently as chief executive of FNB Wealth and Investments. He will continue in this role and said he will leverage more of FirstRand Group’s capabilities.
He has also been chief economist at FirstRand subsidiary, First National Bank.
“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,” Nxedlana said.
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