Life insurance and asset management group, Momentum Metropolitan, made a historic appointment by naming Jeanette Marais as its new Group CEO, effective from August 1, 2023. The move makes Marais the first female CEO of a large, listed life insurance and asset management group in the country. She will succeed Hillie Meyer, who held the position for a fixed term of five years.
Marais has been with Momentum Metropolitan since 2018, serving as Deputy Group CEO. During her tenure, she has exhibited exceptional leadership overseeing various businesses within the group, including Momentum Investments, Momentum Distribution Services, Consult by Momentum, and Momentum Money. Under her guidance, Momentum Investments experienced striking growth, with normalised headline earnings increasing from R271 million in FY2018 to R940 million in FY2022, while the value of new business rose from R80 million to R346 million over the past five years.
With extensive experience in the financial services industry, Marais brings a wealth of knowledge to her new role. She holds an Executive MBA (cum laude) from the International Institute for Management Development (IMD) in Switzerland and a Bachelor of Science degree from the University of the Free State. Marais’s previous executive positions at other financial services firms in South Africa have equipped her with the necessary skills and expertise to lead Momentum Metropolitan.
The Group says the appointment of Jeanette Marais reflects Momentum Metropolitan’s commitment to diversity and maintaining a strong leadership team. Paul Baloyi, Chairperson of Momentum Metropolitan, expressed his satisfaction with the selection process, stating that Marais emerged as the best candidate. Baloyi highlighted the significance of her appointment in breaking barriers and promoting gender diversity. He highlighted Marais’s deep understanding of the company’s strategy, business areas, and industry dynamics, which positions her well to continue Momentum Metropolitan’s growth trajectory.
Jeanette Marais expressed her gratitude for the trust placed in her by the Board and senior leadership, recognising the opportunity to give back to the company that provided her with early growth and leadership opportunities in her career. She acknowledged Hillie Meyer’s exceptional leadership during his tenure and expressed enthusiasm for working with the leadership team to leverage the company’s strong brands and talented workforce, while successfully executing their growth plans.
Subscribe to our free newsletter
Stay at the forefront of financial advisory excellence with MoneyMarketing's weekly insights. As a professional adviser, you'll receive carefully curated content that enhances your practice and client relationships without cluttering your inbox. Our commitment to delivering only relevant, actionable intelligence helps you make informed decisions that drive your business forward. Join our community of leading financial professionals today and transform your practice with our complimentary newsletter—because your success is our priority.
