Carol Paton Writer at Large

The Public Investment Corporation's (PIC's) CEO Dan Matjila is to leave Africa’s largest asset manager with immediate effect. Matjila had offered to resign in a letter to the board on terms that would see him stay in the position until April next year.“The PIC Board deliberated on the letter from the CEO, Dr Daniel Matjila expressing his intention to resign. The board resolved that in the interest of the PIC and the CEO, we accept his resignation with immediate effect,” the PIC said in a statement late on Friday. The PIC, which oversees more than R2-trillion, is also the single biggest shareholder on the JSE and the largest investor in government bonds. Its biggest client is the Government Employees Pension Fund. On Friday, the board said Matjila “has over the years in various capacities, served the PIC with dignity and distinction. He has played an integral role in fulfilling the PIC’s vision of meeting and exceeding our clients’ mandates. Under his leadership, the PIC has grown fr...

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