PIC appoints Hako as COO, Van Heerden as chief risk officer

Van Heerden is currently the chief risk officer at the Absa Group and Hako previously acted as the PIC’s CEO.

Vuyani Hako. Picture: Supplied

JOHANNESBURG - The board of Public Investment Corporation (PIC) has a new chief operating officer and chief risk officer.

Vuyani Hako has been appointed as the new COO, while August van Heerden has been confirmed as the new chief risk officer.

The PIC’s credibility was shattered when its former CEO Dan Matjila was implicated in dodgy deals and corruption.

When Finance Minister Tito Mboweni appointed CEO Abel Sithole earlier this year, he was tasked with turning the embattled state fund manager around.

The appointments of Hako and Van Heerden aim to do just that.

Van Heerden is currently the chief risk officer at the Absa Group and Hako previously acted as the PIC’s CEO.

Hako started this week, while Van Heerden will take up his duties from next year.

The board continues with the recruitment process to appoint a chief investment officer and a chief technology officer.

Sithole said that he was looking forward to working with both in rebuilding institutional integrity and trust internally among clients and stakeholders.

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