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FNB at the Mall of the South in Johannesburg. Picture: REUTERS/SIPHIWE SIBEKO
FNB at the Mall of the South in Johannesburg. Picture: REUTERS/SIPHIWE SIBEKO

Banking group FirstRand on Thursday announced the appointment of Mduduzi Ndlovu as the new head of its asset management business.

Ndlovu will assume his new role at Ashburton Investments from March 1, replacing Sizwe Nxedlana who will remain the CEO of wealth and investments at the group’s First National Bank unit.

FirstRand COO Mary Vilakazi said Ndlovu would bring wealth of insight and knowledge to the investment team, having spent 27 years in the SA investment industry.

“I am honoured to join Ashburton, which I consider one of the most exciting players to emerge in the asset management industry,” Ndlovu said in a statement.

“I look forward to meeting the needs of our clients in these challenging times which are also rich with opportunity.”

mahlangua@businesslive.co.za

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