Atedo Peterside steps down as board chairman of Stanbic IBTC

Atedo Peterside steps down as board chairman of Stanbic IBTC

Just last month, the managing director of Stanbic IBTC bnk threw in the towel for another bank and now the chairman, Atedo Peterside has resigned from

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Just last month, the managing director of Stanbic IBTC bnk threw in the towel for another bank and now the chairman, Atedo Peterside has resigned from the board. His resignation takes effect from March 31, 2017

Since 2007, he has served as chairman of the financial service holding company with subsidiaries in banking, stock brokerage, investment advisory, pension and trustee businesses.

He would however still be a part of the parent company board in South Africa, with some indirect oversight functions. He also hinted that his stepping down would give him more room to concentrate largely on ANAP Business Jets Limited, another business venture he founded a couple of years ago.

In a message to the board, Peterside, who set up IBTC at the age of 33 in 1989 and was chief executive until 2007 before serving as chairman, said it is the ideal time for him to resign and move on.