Rand Merchant Insurance Holdings Ltd., which owns stakes in four insurers, hired Chris Meyer, head of RMB Morgan Stanley, as the holding company run by a former Deutsche Bank AG executive adds investment talent.
Meyer will leave at the end of October to join RMI, RMB Morgan Stanley, an equity-research joint venture between FirstRand Ltd.’s investment bank and New York-based Morgan Stanley, said in an e-mailed statement today.
Meyer, the second equity research expert to join Johannesburg-based RMI since June, spent eight years as chief executive officer of RMB Morgan Stanley, voted South Africa’s top sales team in Financial Mail’s 2014 Ranking the Analysts survey. Matthew Rattray, currently deputy CEO, replaces Meyer.
RMI is the biggest shareholder in Discovery Ltd. and MMI Holdings Ltd., which together have a combined market value of more than 101.4 billion rand ($9.1 billion). Herman Bosman, who formerly headed Deutsche Bank in Johannesburg, was named CEO- designate of RMI from March this year and has hired Meyer and Voyt Krzychylkiewicz, the country’s third-best banks analyst, according to the Financial Mail report.
Krzychylkiewicz, who used to work at with Bosman at Deutsche Bank, joined RMI after leaving SBG Securities, the equity research unit of Standard Bank Group Ltd., in June.
Bosman didn’t immediately return a message left at his Johannesburg office.
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