Johannesburg - Deutsche Bank’s chief country officer for South Africa, Herman Bosman, said he’s resigning after six years in the position because the role doesn’t hold enough potential for development.
Bosman, 44, will stay until August 31 and may provide assistance until year’s end, he said yesterday in a telephone interview from Johannesburg.
While Bosman doesn’t have another job lined up, he and his family plan to stay in South Africa.
“When you’ve decided you want to be in South Africa, then you must consider if there’s development opportunities in your current role,” said Bosman.
“If not, then unfortunately you need to consider going outside.”
Deutsche Bank was the biggest adviser over the past year on South African mergers and acquisitions, including Absa’s 18.3 billion-rand ($2.1 billion) acquisition of the bulk of Barclays’ Africa assets.
Deutsche Bank, which had about 9 percent of the country’s equity capital market last year, remains “committed and excited” about South Africa and will start searching for his successor, Bosman said.
“I still think South Africa is a land of opportunity,” said Bosman, who was previously head of corporate finance for Rand Merchant Bank, the investment banking arm of FirstRand.
“There are things we need to address, but this is my home.” - Bloomberg News