PIC looks likely to keep focused despite Dan Matjila’s challenge
Attracting the right calibre of talent to the investment manager rocked by allegations of malfeasance will undoubtedly become more difficult
Things just got interesting at the PIC. As if dealing with the obligations imposed on it by the PIC Commission — and plotting a way forward in terms of its restructuring — were not enough, the state-owned asset manager must continue to manage the funds of its public-sector clients through the coronavirus pandemic, while its former CEO stakes his claim to “review and set aside” the damning findings of the nearly year-long commission of inquiry.
Dan Matjila has every right to challenge what he thinks are incorrect findings of the commission, but for the PIC, which is in the process of righting the ship under the board led by Reuel Khoza, the chances are looking ominous that it will be dragged kicking and screaming into a very public fight with its former boss...