The PIC commissioners (from left) Gill Marcus, Lex Mpati and Emmanuel Lediga. Picture: WARREN THOMPSON
The PIC commissioners (from left) Gill Marcus, Lex Mpati and Emmanuel Lediga. Picture: WARREN THOMPSON

The Public Investment Corporation (PIC) has appointed Sholto Dolamo its acting chief investment officer (CIO) with effect from August 6.

Dolamo is the executive head of research and projects development at the PIC and a member of the its executive committee.

“The PIC board took a decision to reinstate several executive positions, including that of the CIO, to strengthen its decision-making and implementation capability,” the group said in a statement.

The process to appoint a CIO is under way.

The PIC is in the midst of a turnaround after the release earlier in 2020 of an exhaustive report by the PIC commission of inquiry.

President Cyril Ramaphosa established the commission to look into a range of allegations of impropriety involving the state-owned asset manager, and to evaluate and make recommendations on the organisation’s corporate structure and procedures.

The commission’s report recommended, among other things, that the positions of COO and CIO be reinstated, and that they be board members.

According to the report, the position of CIO was lost during restructuring in 2014 and 2015, which saw that position split into four executive heads of investments, namely, listed investments; private equity and structured investments; developmental investments; and properties. 

With Warren Thompson

gernetzkyk@businesslive.co.za

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