AfroCentric has announced that Santam Client Solutions CEO Gerald van Wyk will succeed Ahmed Banderker at the helm of the black-owned investment holding company with interests in healthcare later this year.
Van Wyk will take up the position on August 1, with Banderker to help with the transition until he returns to Sanlam’s headquarters in Cape Town on November 1.
Banderker joined the Afrocentric board in December 2015 and became CEO in 2019.
“We have seen the group grow under his leadership, particularly during the challenging Covid-19 period. Among the key highlights of his tenure is the successful conclusion of the Sanlam transaction,” the company said in a statement.
In May, the Sanlam Group obtained a controlling stake in Afrocentric, valued at about R3.3bn on the JSE, which will allow Sanlam to add a healthcare offering to its existing suite of financial products spanning investments, insurance, retirement, financial planning and wealth management.
Afrocentric praised Van Wyk’s previous work experience in strategic business development and market and business development at Santam, along with the leadership positions at Discovery Insure, Mutual & Federal and Hollard.
“Gerald is a past president and former executive council member of the Insurance Institute of Gauteng (IIG). As a result, he holds strong reinsurer, insurer, broker and service provider networks and relationships across Southern Africa,” the company said.
In terms of education, he studied at Unisa before completing the Management Development Programme at Stellenbosch University and the General Management Programme at Harvard University.
Former Liberty Health CEO Andrew Schwulst has been hired as the CEO of Medscheme, AfroCentric’s medical scheme administrator subsidiary, and will report to Van Wyk.
“Andrew’s deep expertise in the healthcare industry and extensive global leadership experience will make a significant impact on the delivery of our health strategy,” the statement read.
With Garth Theunissen
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.