David Munro was one of the four most senior executives at the Standard Bank Group. Yet he has opted to move to run Liberty, now the second-smallest listed life insurer by market capitalisation. Munro describes himself as regular guy. He has a predictable education, with a degree in commerce from the University of Cape Town and articles at Deloitte. Among the highlights of his 20 years of merchant banking at Standard Bank was running the joint venture set up in 1998 with Macquarie to develop and trade equity derivatives such as yield-enhanced securities. He was also involved in the largest capital raising in SA mining history for gold mines Western Areas and Beatrix. From 2011 he was given responsibility for the corporate and investment bank in SA, as well as the international unit in London. But he comes in at an awkward time for Liberty, following the sudden departure of the previous CEO, Thabo Dloti. It has echoes of the sudden departure of Roy Andersen in 2003 and his swift repla...
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