He will step down from the position of CEO to take up his new role as chairman on 1 April.
Rothschild & Co South Africa CEO Martin Kingston has been appointed as executive chairman.
Martin will step down as CEO on 1 April, when he will be taking up his new role. He also sits on the boards of struggling SAA and is VP of Business Unity South Africa.
In a press release the group said that the changes reflect their “long-term commitment and ongoing investment in both South Africa and the region and build on Rothschild & Co in South Africa’s market positioning and success.”
Along with Martin’s appointment, Paul Bondi and Giles Douglas assumed the role of co-heads of South Africa. They will support Martin in managing the business and client relationships.
Paul and Giles each have over 20 years of investment banking experience and have been with Rothschild & Co for 13 and five years respectively.
Former Finance Minister of South Africa and current chairman of Old Mutual Limited Trevor Manuel will also be returning to his position as non-executive deputy chairman of the board, while also continuing in his role as senior advisor to the group.
Commenting on these developments, Robert Leitão, Managing Partner at Rothschild & Co, said:
“These appointments reflect the ongoing evolution of Rothschild & Co's business, and further enhance our success and long-standing track record as a leading financial advisory business in Africa. We are extremely proud of the team's collective efforts in building this successful platform