We strive to build on the rich legacy of the RMH

group of companies, founded in 1977 by GT Ferreira,

Laurie Dippenaar and Paul Harris.

We take stakes in emerging and established financial services investments, becoming long-term

partners, who allow management teams the individuality to operate their businesses as owners.

RMI is a JSE-listed investment holdings company with an investment team of experienced, alternative thinking, financial services specialists who actively partner smart and industry changing management teams by being a shareholder of influence.

 

 

Our primary objective is to create value for our shareholders by continuously optimising, diversifying and modernising our portfolio.

 

We invest in businesses that can deliver superior earnings and dividend growth over the long term. This involves the acquisition of interests in companies where we are able to have meaningful influence. We have very long-term holding periods and exit plans are not considered as part of the original investment decision.

 

Sound management is an important investment criterion, with operational autonomy and management independence at the core of our culture and investment methodology. We forge strategic alliances on a partnership basis and endeavour to add value, where possible.

RMI is the strategic, active manager of a [R63 billion]

financial services portfolio

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Exploring time and creating value by

understanding our history

Originally founded in 1977 by GT Ferreira, Laurie Dippenaar and Paul Harris, Rand Merchant Holdings has become one of South Africa’s most powerful brands. The vision, drive and complementary strengths of this trio created one of South Africa’s leading investment banks and today the founders are still an important shareholder grouping with a 10% shareholding and are still active on the board as well as the investment committee.

1977

Rand Consolidated Investments founded by GT Ferreira, Laurie Dippenaar and Paul Harris.

1985

Rand Consolidated Investments merged with Rand Bank (RMB) to form Rand Merchant Holdings (RMH).

1987

RMH registered as a bank-controlling company.

1992

RMH acquired Momentum.

 

Discovery formally launched.

 

Normalised earnings R44 million.

1993

RMH listed on the Johannesburg Stock Exchange.

 

Normalised earnings exceed R100 million.

1995

Global Resorts formed.

1997

Normalised earnings exceed R250 million.

1998

FirstRand formed through the purchase of First National Bank and Southern Life.

 

OUTsurance launched.

1999

Discovery listed on the Johannesburg Stock Exchange.

 

Normalised earnings exceed R500 million.

2001

Normalised earnings exceed R1 billion.

2004

Global Resorts sold.

 

Normalised earnings exceed R2 billion.

2006

R1.2 billion returned to shareholders.

2007

Normalised earnings exceed R4 billion.

2008

Discovery unbundled from FirstRand.

 

RMH acquires 25% of Discovery.

2010

Momentum merged with Metropolitan to form MMI Holdings.

 

Royal Bafokeng Holdings (RBH) introduced as RMH’s black empowerment shareholder.

2011

RMI unbundled from RMH and listed on the Johannesburg Stock Exchange.

2014

Appointment of Herman Bosman as CEO and joining of new investment team.

2015

Launched RMI Investment Managers and invested in eight affiliate asset managers including:

 

  • CoreShares
  • Granate Asset Management
  • North Star Asset Management
  • Perpetua Investment Managers
  • Polar Star Management
  • Sentio Capital Management
  • Tantalum Capital
  • Truffle Asset Management

 

 

RMI launched AlphaCode, a next-generation business platform for fintech entrepreneurs.

 

AlphaCode acquired a 25.1% interest in Merchant Capital, a provider of alternative sources of working capital for small and medium enterprises.

2016

RMI acquired a 29.9% interest in Hastings Group Holdings, a UK-based and listed short-term insurer.

 

Launched Royal Investment Managers in partnership with Royal Bafokeng Holdings and invested in Sesfikile Capital, a listed property asset manager.

 

RMB Structured Insurance sold to Santam Limited.

2017

RMI through AlphaCode acquired 25.1% interest in Entersekt and Entersekt International Limited.

 

RMI through AlphaCode acquired a 3.5% interest in Prodigy Finance.

A strong and diversified shareholding

RMI has five significant shareholders, which include strong international institutions. Royal Bafokeng

Holdings was introduced as the group’s black empowerment shareholder in December 2010.

Directors charged with governance

 

We are fortunate to call on our extensively skilled and vastly experienced board for their governance and

oversight in achieving our strategic goals and delivering value to all our stakeholders.

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GT FERREIRA

NON-EXECUTIVE CHAIRMAN

B.Com, Hons B (B&A), MBA

Appointed 8 December 2010
GT was a co-founder of Rand Consolidated Investments (RCI) in 1977, which acquired control of Rand Merchant Bank (RMB) in 1985. When RMH was founded in 1987, he was appointed chairman, a position that he still holds. Following the formation of FirstRand, he was appointed non-executive chairman from 1998 to 2008.

Other listed directorships:
Remgro Limited (lead independent)
RMB Holdings Limited (chairman)

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JANNIE DURAND

DEPUTY CHAIRMAN

B.Acc (Hons), M.Phil (Oxford), CA(SA)

 

Appointed 8 December 2010
Jannie, a Rhodes Scholar, is the chief executive of Remgro Limited and, before its delisting, he was the financial director and chief executive of Venfin Limited. He has been a director of Remgro Limited since November 2009 and served as a non-executive director of Alexander Forbes Limited from October 2004 to July 2007.
Other listed directorships:
Distell Group Limited
FirstRand Limited
Mediclinic International Limited
RCL Foods Limited
Remgro Limited
RMB Holdings Limited (alternate)

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HERMAN BOSMAN

CHIEF EXECUTIVE AND FINANCIAL DIRECTOR

B.Com (Law), LLB, LLM, CFA

Appointed 2 April 2014
Herman was with RMB for 12 years and ultimately headed up its corporate finance practice between 2000 and 2006. He returned to the group in 2014 after serving as chief executive of Deutsche Bank South Africa from 2006 to 2013.
Other listed directorships:
AlphaCode Proprietary Limited
Discovery Limited
Endeavor South Africa
FirstRand Limited
Hastings plc
Merchant Capital Advisory Services (Pty) Limited
OUTsurance Holdings Limited
Rand Merchant Investment Holdings Limited (Chief Executive)
RMB Holdings Limited (Chief Executive)
RMI Investment Managers Group Proprietary Limited

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ALBERTINA KEKANA

NON-EXECUTIVE DIRECTOR

B.Com (Hons), CA(SA), AMP(Harvard)

Appointed 6 February 2013
Albertina Kekana is the chief executive of Royal Bafokeng Holdings Proprietary Limited. She has extensive asset management, investment banking and business leadership experience. She was previously the COO of the Public Investment Corporation.
Other listed directorships:
Impala Platinum Holdings
Limited RMB Holdings Limited

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DAVID WILSON

ALTERNATE NON-EXECUTIVE DIRECTOR

B.Com. (Accounting); CA(SA)

David is a chartered accountant by profession and is currently employed by Royal Bafokeng Holdings(RBH) as Head of Portfolio. He is a director of Royal Bafokeng Platinum Limited, representing RBH. Prior to joining RBH, he was a director and Head of Mergers and Acquisitions for sub-Saharan Africa at Deutsche Bank, South Africa. Before joining Deutsche Bank in 2004, he was an Associate Director, Corporate Finance at HSBC, South Africa and Vice President, Corporate Finance at ING Barings, South Africa.
Other listed directorships:
RMB Holdings
Royal Bafokeng Platinum

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FAFFA KNOETZE

ALTERNATE NON-EXECUTIVE DIRECTOR

B.Com (Hons), FIA

Appointed 1 April 2016
Faffa joined Remgro in 2013. He focuses on the company’s interests in the financial services and sports industries. Prior to joining Remgro, Faffa spent time at Sanlam, Alexander Forbes and Payprop Capital. His experience varies from valuator and consulting actuary to a number of pension and provident funds, overall responsibility for the full service offering to retirement fund clients to establishing a niche company as an authorised financial service provider rendering investment advice and providing a unique short-term insurance solution as alternative for rental deposits in the residential property market.
Other listed directorships
MB Holdings Limited (alternate)
First Rand Limited

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JAN DREYER

INDEPENDENT NON-EXECUTIVE DIRECTOR

B.Com, LLB, HDIP Co Law, HDIP TAX

 

Appointed 8 December 2010
Jan was a partner in Hofmeyr, Van der Merwe and Botha from 1978 and chairman of the firm from 1993 until 1999. He joined the board of RMB in 1984 and RMH on formation. In 2000 he joined the Rembrandt group as an executive director. At the time of the split of Remgro and Venfin he became a non-executive director of both companies. He was re-appointed as executive director of Remgro in 2008, a position he held until his retirement at the end of 2013.
Other listed directorships
RMB Holdings Limited

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JOHAN BURGER

INDEPENDENT NON-EXECUTIVE DIRECTOR

B.Com (Hons), CA(SA)

Appointed 30 June 2014
Johan joined the group’s investment banking business, RMB, in 1986, where he performed a number of roles before being appointed financial director in 1995. In 1998, following the creation of FirstRand Limited, Johan was appointed CFO of the banking businesses and, in 2002, CFO of the group. In 2009 he took on the combined roles of CFO and COO until October 2013 when he relinquished his CFO portfolio and was appointed group Deputy CEO. He became CEO in October 2015.
Other listed directorships:
FirstRand Limited (Chief Executive)
RMB Holdings Limited

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KHEHLA SHUBANE

INDEPENDENT NON-EXECUTIVE DIRECTOR

BA (Hons), MBA

Appointed 8 December 2010
Khehla served various political organisations after incarceration on Robben Island for political activism. He is an author and has co-authored several political publications.
Other listed directorships:
MMI Holdings Limited
RMB Holdings Limited

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LAURIE DIPPENAAR

NON-EXECUTIVE DIRECTOR

M.Com, CA(SA)

Appointed 8 December 2010
Laurie was a co-founder of RCI in 1977. He became an executive director of RMB in 1985 and managing director of RMB in 1988, a position he held until 1992 when RMH acquired a controlling interest in Momentum. He served as executive chairman of Momentum from 1992 until the formation of FirstRand in 1998. He was appointed as the first chief executive of FirstRand and held this position until the end of 2005, when he assumed a non-executive role. He has been chairman of FirstRand since November 2008.
Other listed directorships:
FirstRand Limited (chairman)
RMB Holdings Limited

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MURPHY MOROBE

INDEPENDENT NON-EXECUTIVE DIRECTOR

Diploma in Project Management,
MCEF- Princeton ’91

Appointed 1 August 2014
Murphy has a career spanning more than 30 years covering the worlds of student activism, trade unionism, the public sector, politics, youth development, environment and conservation.
Other listed directorships:
Remgro Limited
RMB Holdings Limited

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PATRICK GOSS

INDEPENDENT NON-EXECUTIVE DIRECTOR

BEcom (Hons), BAccSc (Hons), CA(SA)

Appointed 8 December 2010
After graduating from the University of Stellenbosch as the president of the Association of Economics and Commerce Student, representing South Africa at the Hague and Basel, Pat qualified as chartered accountant with Ernst and Young. He started his career at the Industrial Development Corporation and has served as a director on various group companies for the past 35 years. He has a passion for conservation and has served as chairman of the Natal Parks Board. His family interests include Umngazi River Bungalows and various other conservation related activities.
Other listed directorships:
FirstRand Limited
RMB Holdings Limited (lead independent)

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PAUL HARRIS

NON-EXECUTIVE DIRECTOR

M.Com

Appointed 8 December 2010
Paul was a co-founder of RCI in 1977 and he became an executive director of RMB in 1985. He spent four years in Australia where he founded Australian Gilt Securities (later to become RMB Australia) and returned to South Africa in 1991 as deputy managing director of RMB. In 1992 he took over as chief executive. Subsequent to the formation of FirstRand, he was appointed as chief executive of FirstRand Bank Holdings in 1999, a position he held until December 2005 when he was appointed as chief executive of FirstRand. He retired from his executive position at the end of December 2009.
Other listed directorships:
FirstRand Limited
Remgro Limited
RMB Holdings Limited

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PER LAGERSTRÖM

INDEPENDENT NON-EXECUTIVE DIRECTOR

B.Sc. (Accounting), M.Sc. (Economics) (London School of Economics)

Appointed 30 June 2014
Per is a co-founder and the CEO of Sinequanon, specialists in smart data solutions for human capital. Previously he was a partner at McKinsey & Company where he headed up the Financial Services Sector and the Organisation Practice.

Other listed directorships:
RMB Holdings Limited

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PETER COOPER

NON-EXECUTIVE DIRECTOR

B.Com (Hons), CA (SA), HDip Tax

Appointed 8 December 2010
Peter has extensive experience in financial services, first as tax consultant and then as structured finance expert. He joined RMB’s Special Projects division in 1992 and transferred to RMH in 1997. He is the immediate past chief executive of RMI and RMH.
Other listed directorships:
FirstRand Limited (alternate)
Imperial Holdings Limited
RMB Holdings Limited

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SONJA SEBOTSA

INDEPENDENT NON-EXECUTIVE DIRECTOR

LLB (Hons), LSE, MA (McGill), SFA (UK), Executive Leadership Programme (Harvard)

Appointed 8 December 2010
Sonja is a principal partner of Identity Partners, a women led investment firm that also has a corporate finance advisory division and facilitates finance for SMEs through the Identity Development Fund. Sonja’s areas of study included law, business and economics, which served her well as vice president in Mergers and Acquisitions and Corporate Finance at Deutsche Bank. She played an integral part in WDB Investment Holdings participating in FirstRand’s BEE transactions. She is also Chairman of the Ethos Mid-Market Fund.
Other listed directorships:
Discovery Limited
RMB Holdings Limited Remgro

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OBAKENG PHETWE

NON-EXECUTIVE DIRECTOR

B.Com (Hons), CA(SA)

Appointed 6 February 2013
Obakeng is the chief executive of the Royal Bafokeng Nation Development Trust, which holds all the commercial assets on behalf of the Royal Bafokeng Nation. He serves on the board of Royal Bafokeng Holdings Proprietary Limited, Impala Platinum Limited and Mining, Oil and Gas Services Proprietary Limited amongst others.
Other listed directorships:
RMB Holdings Limited (alternate)

KEY TO COMMITTEES

Audit and risk committee

Directors’ affairs and governance committee

Investment committee

Nominations committee

Remuneration committee

Social, ethics and transformation committee

Meet the Investment Team

 

We are an investment team of experienced, alternative thinking, financial services specialists who actively partner and empower smart, industry-changing financial services entrepreneurs. We have been fortunate to work with South Africa’s top financial services companies and are excited and focused on developing the next generation in financial services.

HERMAN BOSMAN

CHIEF EXECUTIVE OFFICER

 

B.Com (Law), LLB, LLM, CFA

 

 

Herman is the CEO of RMB Holdings and RMI Holdings, having joined the companies in April 2014.  Prior to his current role he was CEO of Deutsche Bank South Africa (2006-2013) and Head of Corporate Finance at Rand Merchant Bank (2000-2006). Herman is a non-executive director of Discovery Limited, FirstRand Limited, Hastings plc, OUTsurance Limited and Merchant Capital Limited.

 

He also serves on the Board of Governors of the University of Johannesburg, is the Chairman of Endeavor South Africa and a director of Business and Arts South Africa. Previously he served eight years as a trustee of the Deutsche Bank South Africa Foundation.

LISA CHIUME

SENIOR INVESTMENT EXECUTIVE

 

B.Com.(Finance and Economics); CFA

 

 

Lisa joined RMI in 2014. Before that, she was at Deutsche Bank for 12 years, starting as an Assistant Research Analyst in the top rated Equity Research and Sales team assisting in Economics Research and macro and micro-economic strategy.

 

Following her time in research she joined the South African Corporate Finance team where she was involved in mergers and acquisitions and equity capital markets, with specific experience in advising South African financial institutions. Lisa has advised on some of the landmark transactions in the South African banking and insurance sectors

DOMINIQUE COLLETT

SENIOR INVESTMENT EXECUTIVE

 

B.Bus.Sci; M.Sc (Finance)

 

 

Dominique has an entrepreneurial background and was one of the founding members of TYME, a South African based technology company that designed, built and operated digital banking ecosystems.

 

TYME was sold to Commonwealth Bank of Australia (CBA) in early 2015. Prior to this, Dominique’s career spanned both banking and management consulting at Standard Bank Group and McKinsey & Company. She has extensive international experience having worked throughout Africa, Russia, and Turkey and was based in both Brussels and London.

NIMALAN REDDY

INVESTMENT EXECUTIVE

 

B.Bus.Sci (Hons), CA (SA)

 

 

Nimalan joined RMI in 2016 and was previously a senior analyst in the private equity division of RisCura, where he was involved in some of Africa’s largest off-market transactions.

 

Prior to RisCura, Nimalan was at Investec, where he spent three years in asset management and specialist banking divisions based in London, Cape Town and Johannesburg.

EKERETE UMOETOK

INVESTMENT EXECUTIVE

 

B.Sc. (Actuarial and Financial Mathematics); B.Sc.(Hons.) Financial Engineering; B.Com. (Investment Management); M.Com. (Financial Economics); CFA

 

 

Ekerete’s background is in private equity and investment banking, having been at Standard Bank and private equity houses LeapFrog Investments and Phatisa.  In his prior experience, he invested in financial services and real estate assets across the African continent.

The new and dynamic RMI brand is a visual representation of RMI’s philosophical approach as a strategic shareholder.

Visually, inspiration was drawn from the contained yet multifaceted images of a kaleidoscope with its limitless choice for creative interpretation.

The new brand  creates  brand  distinction within  the  broader RMI  and RMH  portfolios, whilst retaining the proud association with the wider group. The colour palette of blue and clay creates a balance between the notion of stability and growth. The dark blue represents consistency and tradition coupled with the clay colour depicting creativity, potential and basic values.

 

The distinctive shapes of the circular icon in the new identity are collectively called the “Kaleido”. It speaks of RMI’s ability to see opportunities that at first seem ordinary or obvious in a way that makes it extraordinary and to act as a catalyst to challenge and inspire empowered executive teams.

Each person looking into a kaleidoscope will see something different, and any slight movement of the instrument will change the picture and perspective. This invites ever new, changing and creative ways of thinking and seeing. This outlook is characteristic of RMI’s business approach and reinforced by the symbolism of the “Kaleido”.

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Download the RMI Brand Manifesto