The Black Management Forum (the BMF) which is at the forefront of transformation in Corporate South Africa welcomes the appointment of Peter Moyo as Chief Executive Officer (CEO) of Old Mutual Emerging Markets.
“Mncane Mthunzi, President of the BMF said they would like to applaud the progressive and exemplary move by Old Mutual in appointing Mr Moyo to head their Emerging Markets business.
The BMF believes the appointment of Peter, an acclaimed transformation agent and a seasoned black executive, is a first step in the right direction especially against the backdrop of setbacks on transformation of executive teams of major Financial Services Sector companies in Corporate South Africa.
“We mostly welcome this appointment because we have identified the financial services industry as one of the least transformed sectors with its Transformation Charter as one of the impediments in advancing transformation within the sector,” said Mthunzi
On 22 March 2017, the BMF tabled its recommendations on the transformation of the Financial Services Sector before the Standing Committee on Finance in Parliament. Part of the organisation’s submission highlighted some of the key and structural issues hindering transformation within the sector such as, the Financial Services Sector Charter; Ownership; Market Concentration; the Once Empowered Always Empowered principle and Empowerment Financing.
The Black Management Forum wishes Mr Moyo well and would like to pledge their solid support towards his appointment and his anticipated success. The Black Management Forum stands for the development and empowerment of managerial leadership primarily amongst black people within organisations and the creation of managerial structures and processes, which reflect the
demographics, and values of the wider society.