Less than a month after announcing that former MTN South Africa CEO Zunaid Bulbulia would join its board of directors in a nonexecutive capacity, Huge Group has said that well-known investment industry player Duarte da Silva will take over as its chairman on 1 March.
Da Silva will become nonexecutive chairman, taking the reins from Vincent Mokholo, Huge Group said in a statement to shareholders on Wednesday afternoon. Mokholo will stay on as a nonexecutive director.
In addition to serving as chairman, Da Silva will serve as a member of Huge Group’s audit and risk committees.
Da Silva has more than 20 years’ experience in the investment industry. He holds a PhD in engineering from Wits University, which he obtained at the age of 24. In 1988 and 1989, he lectured in thermodynamics and propulsion systems at Wits.
Until recently he was CEO of Macquarie First South, a joint venture established in 2006 between Macquarie Bank of Australia and First South Financial Services (a company that he founded 15 years ago with the backing of the J&J Group, supported by Old Mutual).
In 2013, Macquarie appointed Da Silva as regional head for sub-Saharan Africa. He presided as executive chairman of the corporate finance and equities businesses of Macquarie First South. He left the Macquarie group at the end of 2015, after selling the Macquarie First South joint venture to Macquarie Bank.
Da Silva is also a past director of Merrill Lynch South Africa. While there, he was the top-rated analyst covering the technology/electronics and industrials/diversified sectors.
In 1998, he founded a technology fund with the support of institutional backers. The fund was established to conduct primarily private equity, technology-related investments. The fund completed 18 investments (with notable listings in Helsinki, London and Johannesburg) and was used to assume control of McCarthy Bank. – © 2016 NewsCentral Media
