1st July, 2019

APPOINTMENT OF MANAGING DIRECTOR

Peet van Der Walt
Cavmont Bank Managing Director

The Capricorn Group and Cavmont Bank Limited Board of Directors, are pleased to announce the official appointment of Mr. Petrus van der Walt (Peet) as the Managing Director of Cavmont Bank effective 1 July 2019.

Peet is a veteran banker who joined Cavmont Bank in March 2018 as a consultant and appointed as the Interim MD with effect from 1 July 2018. Over the past year he has been instrumental in reviewing and aligning the Cavmont business and strategy.

Peet holds a B.Comm from North West University (RSA) as well as a B.Acc Honors degree and an M.Comm from the same University. He is also a Chartered Accountant (SA).

Peet has extensive experience in corporate leadership and the areas of operational and commercial banking. Peet has a proven track record in managing difficult challenges and delivering positive results.

His career is widespread starting as Chief Financial Officer of Merca Bank (RSA) in 1985. Later in his career he moved to First National Bank (RSA) where he filled various roles notably as the CEO of the metropolitan branch network. In addition, from 2004 to 2008 he held the position of CEO: Personal Banking.

The Cavmont Bank Board of Directors is confident that Peet and the executive management team will be successful in shaping and implementing the turn-around strategy that will ensure sustainable growth for the business for years to come.

We wish Peet the best in his role as Managing Director and look forward to his continued contribution to the success of the Bank.

Cavmont Bank Chairman