Stanlib announced on Monday that Bruce Hemphill has been appointed as the new CEO of the wealth and asset management group with effect from February 1 2004.
Hemphill will also be joining Liberty Group’s executive committee.
The appointment of a new CEO is part of the streamlining of Stnalib into a single company, uniting the company’s two divisions — Stanlib Wealth Management (the marketing arm) and Stanlib Asset Management (the asset manager) which, since the company’s formation last year, have been working in tandem, each headed by its own CEO.
Stanlib is a joint venture between Liberty Group and its majority stakeholder Standard Bank.
Hemphill studied law and politics at the University of Cape Town before completing his post graduate legal studies in London where he qualified as a solicitor. He then practised law in Hong Kong before returning to South Africa in 1991 when he joined Anglo American’s management trainee programme.
In 1993 he joined Standard Merchant Bank’s Corporate Finance Division. He was subsequently appointed joint Head of Corporate Finance at Standard Corporate and Merchant Bank and in 1998 he was appointed joint head of Investment Banking.
In 2000 he was appointed Managing Director of SCMB Securities where he was responsible for the successful restructuring of the local and offshore businesses.
In 2002 he was appointed Deputy Managing Director of the Commercial Bank and oversaw the successful restructuring of the business which was completed earlier this year. He then rejoined Standard Corporate and Merchant Bank to establish a new deal origination initiative. – I-Net Bridge