Rand Merchant Bank appoints new CEO

Rand Merchant Bank (RMB), the corporate and investment banking company of FirstRand, announced on Thursday (May 5) that Emrie Brown has been appointed Chief Executive Officer with effect from October 1, 2022.

Brown will take over from current CEO James Formby, who will hand over the role after seven years as CEO of RMB.

RMB’s current CEO, James Formby, said: “I’m glad I can pass on the stick to one of Emrie’s talent and experience. The time is right to surrender and I have the right person to surrender.”

Brown began her career at RMB in 2001 as a transactor and became Head of Leveraged Finance in 2006. In 2009, she moved to Cape Town to lead the Western Cape Investment Banking team. She moved to Johannesburg after being appointed co-head of the Investment Banking Division in July 2015.

Brown is currently head of RMB’s Banking Division, which includes Corporate Transactional Banking, Investment Banking and Coverage, and accounts for the major part of RMB’s total revenue.

“I’m following in the footsteps of remarkable CEOs for me who have built a company that I’m proud to be part of for most of my banking career. I’m looking forward to working with our diverse and high performing teams to deliver a distinctive experience to our clients, ”said Brown.

Formby has a number of options available to him within the broader group he is considering, the group said.

FirstRand CEO Alan Pullinger said: “Emrie taking over as RMB CEO endorses the approach of the succession planning team, which is designed to ensure strategic and operational continuity in our customer-oriented business operations. Their long and successful track record in the company and the quality of its customer relationships, combined with the fact that it already oversees the largest business unit within RMB, means that it is the natural successor to James.

“The group is grateful to James for his stewardship of RMB, which, during his tenure, continued to be a leader in the markets where it operates, generating growth and returns for FirstRand shareholders.”

To read: A message to the government of one of South Africa’s top bank directors

Rand Merchant Bank appoints new CEO

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