From his roots in Pietermaritzburg to steering the financial strategy of one of South Africa’s boldest new insurance ventures as CFO of glu, CFO Jeshan Gajathar brings together technical expertise, entrepreneurial spirit, and a values-driven approach to leadership, proving that finance is not just about numbers, it is about people, purpose, and building sustainable futures.
When Jeshan Gajathar describes his professional journey, his words are threaded with energy, humour, and reflection. Pietermaritzburg born and bred, Jeshan is now the chief financial officer of glu, an ambitious new player in South Africa’s insurance landscape, and a mutual insurer built on the principles of community and shared value, aiming to reimagine how insurance works for South Africans. Yet his path to this role has been anything but linear.
His story begins at the University of Natal, where he embarked on an academic journey that would eventually blend lecturing, articles, and international exposure. This is where he graduated with a bachelor of commerce honors degree in 2002.
“Normally one is able to do three years of articles, but I managed to squeeze in only two years of articles,” he recalls with a laugh. Even then, Jeshan’s curiosity and drive pushed him to move faster than conventional.
But what truly shaped his early career was the unexpected detour into teaching, which he describes as an opportunity to discover himself. It was here, lecturing during his first year of articles, that he began to understand both the weight and the reward of sharing knowledge.
“It was a time when I went through a lot of hard work and technical knowledge that stuck. It was when I realised that what you do has real meaning when you can pass it on to others,” he says.
From articles to the global stage
After a year of academic work and two years into articles, Jeshan sought international exposure. He spent time in the United States on a secondment, a common rite of passage for ambitious young professionals seeking to broaden their horizons. It was a formative period, but equally defining was what came next: marriage, a return to South Africa, and the decision to carve out a career in large corporations.
He began by assisting with financial modelling, internal controls and supporting companies with their Sarbanes-Oxley compliance as they listed in the UK. The work was technical, detail-heavy, and high-stakes, giving him insight into the mechanics of global finance. His next stop was ABI, which was part of the South African Breweries Group.
But the turning point arrived in 2009, when conversations with Liberty opened the door to the Standard Bank and Liberty Group. “That’s probably the time when the financial services and asset management approach to my career started taking shape. I really started enjoying what this world was about,” he says.
Although he entered as a junior financial officer, this period marked an important inflection point. He realised he had a choice: remain in pure financial management or take a broader view of how business and people intersect.
A step sideways that mattered
Unlike many peers who remained firmly entrenched in finance, Jeshan chose to “step sideways.”
“For me, I said, let me dive in. It might be a career-limiting decision, but I wanted to really understand what was happening in the business,” he explains. He immersed himself in commissions, spent time with sales teams, and explored operations in detail.
This choice, far from stunting his growth, became a career accelerator. By the time he returned to a CFO role towards the end of his tenure at Liberty, he had developed a holistic understanding of the business.
“I knew what customers wanted, what drove them, and what people selling our products wanted. I could then pull this together at a senior level to start building businesses that were sustainable.”
It was here that his passion for sustainability was cemented, not only environmental sustainability but also building financial products and structures that served customers in meaningful and lasting ways.
Poached into a new future
After years of success at the Standard Bank Liberty Group, Gajathar was approached by glu. Two years ago, he took the leap, joining as CFO in 2023. His mandate, alongside chief executive Michele Jennings, the chief information officer, Sibusiso Mbingo and the rest of EXCO, was simple yet daunting: build a new business from scratch.
The vision was to take the concept pioneered by PPS, an insurance company serving professionals, and extend it to all South Africans. “It always baffled me why such a wonderful concept wasn’t open to everybody,” he says.
Thus began the journey to leapfrog glu into the future, using technology and innovation to democratise access to insurance while embedding mutuality at its core.
Building from the ground up
Starting an insurance company is not for the faint-hearted. It requires capital, technology, regulatory approval, and above all, vision, and for Jeshan, the experience has been both gruelling and exhilarating.
“Two years ago we built a new business from scratch, our own technology, our own executive team and our own operations,” he says. By the end of January 2025, policies were flowing, and glu was live.
“You always build things in silos, but you never get to build an entire business from start to end with a strong executive team. It has not been easy, but it’s probably one of the most rewarding things I’ve done,” says Jeshan.
He explains that glu’s philosophy is summed up in a simple phrase: digital with heart. While technology underpins everything, the company strives to ensure members and advisers feel human connection at every touchpoint.
“We want to create an innovative culture using technology, but at the same time, we make sure our members and financial advisers feel us. That’s what digital with heart means,” he says.
Mutuality and the member first approach
Unlike conventional insurers, glu operates on a mutual model. This means profits are returned to members rather than shareholders. For Jeshan, this philosophy resonates deeply.
“Whatever we make is always to the benefit of the members. Every decision we make, short-term, medium-term, or long-term, must be in the best interest of our members (policyholders),” he says.
This alignment with members, he believes, gives glu an edge in building trust, a currency more valuable than any other in the financial services industry.
According to Jeshan, technology, unsurprisingly, is central to glu’s growth. But he insists it is not about technology for its own sake; it is about ensuring seamless experiences and future-proofing the business.
“Everything we do needs to be digitally enabled. In the future, AI will dominate. That means we need to think about the data we are capturing today and how it will be used tomorrow.”
He speaks of over 100 integrations behind glu’s policy administration system, complex technology hidden behind a simple, elegant front-end experience for members and advisers.
A leadership style of values
When asked about his leadership style, Jeshan explains that for him it’s all about value-driven leadership. As a self-confessed vegan and passionate advocate for compassion, his approach centres on understanding the heart of people.
“I care about animals, people, and business. What’s important for me is really understanding the person’s values, what wakes them up in the morning, and using that to motivate and lead.”
This philosophy extends to his team. He believes in uniting people by understanding what motivates them individually, drawing from their unique backgrounds, and creating alignment with the organisation’s mission.
Motivation, compassion, and purpose
But what motivates Jeshan himself? His answer is clear: compassion.
Insurance, he believes, is a deeply human industry and according to him, he and his team are protecting people’s futures.
“Imagine when a spouse loses a partner, we are there to provide life insurance. When someone faces a dreaded disease, we are there with critical illness cover. It’s about protecting legacies, and that’s extremely compassionate work,” he says.
His veganism is an extension of this ethos and he says it’s about respecting not just people, but also animals and the environment. He believes that one must leave the world in a better state than the state one found it.
Despite long hours, often six or seven days a week, Jeshan insists on creating balance where it matters most: his family. Married with two children, aged 10 and 13, he prioritises morning routines.
“I’m at the gym at 5 a.m., not for muscle but for mental strength. I drop the kids at school every morning because I know I won’t be there in the evenings.” Even if meetings stretch late, he carves out time for dinner, bedtime stories, and weekend family cooking sessions.
Balance, he admits, is never perfect.
Spiritual grounding
Spirituality is another pillar of his life and he says the world is so materialistic, but what really matters is the soul.
“I believe we are here to train our souls, to elevate ourselves, and to make the people around us live better lives,” he says.
For him, this grounding provides clarity in both personal and professional life. It shapes his leadership, decision-making, and the way he navigates challenges.
Looking ahead, Jeshan has an ambitious vision for glu. He believes the company can fundamentally shift South Africa’s socio-economic landscape by extending the benefits of Mutuality to all.
“In the next five years, we must innovate to remain relevant, collaborate with insurtech and fintech partners, and always prioritise long-term stability over short-term gains. Most importantly, we must bring inclusive growth to South Africa.”
He envisions glu as a force for socio-economic upliftment, ensuring that insurance is not just for the privileged but a tool that supports families across all classes, from rural villages to urban centres.
And to young professionals hoping to follow in his footsteps, Jeshan offers simple but powerful advice: step outside your silo.
“Understand every element of the business. Understand what customers want. Then come back, build, and make a difference. Life is short, don’t just sit in your silo. Change something,” he says.
