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Grindrod Bank appoints new board members

Grindrod Bank is pleased to announce the appointment of new board members to the organisation, effective 1 March 2020.

The Grindrod Bank Limited Board of Directors  will now comprise of the following:

  • Amanda Dambuza – Chairperson
  • David Polkinghorne – Chief Executive Officer
  • Rakesh Garach – Chief Financial Officer
  • Julian Beare – Non-Executive Director
  • Sherry Barrett -Independent Non-Executive Director
  • Zola Malinga – Independent Non-Executive Director
  • Tyrone Soondarjee – Independent Non-Executive Director

“These appointments come at a time in which our organisation is embracing transformation and solidifying its corporate culture, ethos and commitment to the highest global standards of good governance,” says David Polkinghorne, Chief Executive Officer of Grindrod Bank.

“As a bank, we’ve had to identify opportunities that will grow the business by bringing together diverse individuals with different skills and our board members reflect this growth,” says Polkinghorne.

Grindrod Bank is committed to industry transformation and is an organisation focused on sourcing remarkable individuals, with extraordinary drive and professional expertise, to create a truly dynamic niche bank.

In this regard, Amanda Dambuza has been appointed Chairperson of the Board of Directors. While Dambuza has been a Non-Executive Director of the board for several years but this appointment makes her the first African female to be appointed chairperson of a bank in South Africa. Dambuza is also the Chief Executive of Uyandiswa; a project management consulting firm she founded 7 years ago and is the Director of Leadership Development Strategies, a company focusing on leadership & executive development, coaching, talent identification and teaming.

Other new Board members include Rakesh Garach – Chief Financial Officer of Grindrod Bank; Sherry Barrett who is an Independent Non-Executive Director; Zola Malinga, an Independent Non-Executive Director; Tyrone Soondarjee, an Independent Non-Executive Director and Julian Beare, who while stepping down as Chairperson, remains a Non-Executive Director. He has served for 9 years on the board.

Rakesh Garach is a seasoned veteran of the financial industry. His knowledge and experience is diverse, spanning both the private and public sectors, including international exposure with Ernst & Young and Deutsche Bank. He also serves on the Board of the National Empowerment Fund, currently in his second term as Chairperson.

Sherry Barrett also brings a wealth of experience as a qualified Chartered Accountant (CA) (SA), who is currently on the journey of attaining Certified Directorship qualification with the IoDSA. She holds diplomas in Advanced Banking and Financial Markets and Instruments and has participated in various leadership and management programs. Barrett can leverage off extensive working experience, spanning 24 years, 14 of which has been at executive level in highly regulated environments. During this time, she served 3 years as trustee on the Bankmed Board and Director on a few special purpose entities.

Zola Malinga is the co-founder and executive director of Jade Capital Partners (Pty) Ltd, a 100% women-owned investment company founded in 2013. The company invests in the property sector and industrial and infrastructure related sectors. Prior to starting Jade Capital, she was a Director within the Real Estate Finance division of Standard Bank heading up the New Business Team where she was a member of the Real Estate Finance Executive Committee (Exco), and the Credit Deal Approval Committee.

Tyrone Soondorjee is a commercially orientated Chartered Accountant with over 30 years’ experience in the corporate sector. He has held a wide range of Senior Executive Roles in the Financial Services, Telecoms & Professional Services industries. Previous roles have included acting as  Group Financial Director of the JSE Listed Sasfin Banking Group for a period of 10 years & Director of Finance at Deloitte’s where he also spent 10 years.

“We are excited to have our new members join our board and we are thrilled with the talent that we are able to retain. We are certain of the value the current board will contribute. At Grindrod Bank, we see good governance as a critical component that will set us up for success. Our diverse opinions, experience, values and skills will unlock more opportunities that will set us apart and take us to greater heights,” says, Dambuza.

Should you wish to interview Ms Dambuza or the CEO Mr Polkinghorne regarding the new appointments please let me know and I will arrange accordingly.


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