FirstRand Limited (the group) and FirstRand Bank Limited (the Bank) announced that Johan Burger, who reaches the retirement age of 60 in 2018, will retire as group and bank CEO, effective March 31, 2018, however, he will remain as an executive director until August 31, 2018. Subject to regulatory approval, he will transition to a non-executive director on September 1, 2018. Alan Pullinger, currently group deputy CEO, is appointed group and bank CEO, effective April 1, 2018.

Mary Vilakazi, previously deputy CEO of MMI Holdings Limited (MMI), is appointed group and bank COO and executive director, effective July 1, 2018. The appointment of Mary Vilakazi as group COO adds significant strategic and operational capacity at an executive management level, particularly given her experience and track record. During her tenure at MMI, Mary was responsible for the balance sheet management strategy, the group CFO portfolio and the retail operations as CEO of the Momentum and Metropolitan businesses.