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The FirstRand group's history traces back to the 1970s as an investment bank.The group as currently was established on 1 April 1998, through a merger of the financial services interests of Anglo American Corporation of South Africa Limited (now Anglo American plc) and RMB Holdings (RMBH) in order to achieve the objective of a unified financial services grouping.
The FirstRand Group was established in 1998, by the merger of First National Bank of South Africa, Rand Merchant Bank and Momentum Insurance & Asset Management. FirstRand is listed as a "locally controlled bank" by the South African Reserve Bank, the national banking regulator. [8]
This merger gave rise to First Rand and was listed on the Johannesburg Stock Exchange on May 25, 1998, with Anglo American and RMH owning 20.43% and 25.03% of the authorized capital of FirstRand respectively. [12] FirstRand had two main subsidiaries i.e. FirstRand Bank and FirstRand Insurance, holding banking and insurance investments respectively.
Mary Vilakazi (née Seemane; born August 1977) is a South African businesswoman and chartered accountant who has been chief executive officer of FirstRand since April 2024. Before joining FirstRand as chief operating officer in 2018, she was deputy chief executive officer at MMI Holdings and a partner at PwC.
This is a list of commercial banks and other credit institutions in South Africa, as updated late 2024 by the Reserve Bank of South Africa. [ 1 ] [ 2 ] List of commercial banks
On March 31, 2010, Metropolitan Holdings, First Rand and Momentum Group entered into a Merger Agreement that would see the amalgamation of Momentum's business with Metropolitan. [5] FirstRand sold its entire shareholding in Momentum to Metropolitan in consideration for which Metropolitan will issue new Metropolitan ordinary shares to FirstRand. [9]
Lauritz Dippenaar graduated from Pretoria University with a Master of Commerce, qualified as a Chartered Accountant with KPMG, and spent three years with the Industrial Development Corporation of South Africa. In 1977, Dippenaar founded FirstRand's predecessor, Rand Consolidated Investing along with Paul Harris and Gerrit Ferreira. He served as ...
First National Bank (South Africa) ... First National Bank of Tanzania; FirstRand This page was last edited on 23 May 2024, at 01:53 (UTC). Text ...