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Johannesburg - Outgoing Public Investments Corporation (PIC) CEO Elias Masilela has joined US-based firm DaMina Advisors as a senior global advisor, according to the firm's website on Tuesday.
Masilela, who will be leaving the PIC at the end of the month, was listed on the firm's website under "Senior Global Advisory Team", with the sub-heading "High-level advisory and consulting, African Capital Markets".
His biography on the website stated that Masilela would help "strengthen DaMina's growing high-level Africa M&A [merger and acquisition] consulting, capital markets research, and advisory business".
He would additionally provide DaMina's global financial services clients with "unique insights into South Africa's monetary and macroeconomic policy, as well as untapped capital markets opportunities in Africa".
The PIC announced on May 30 that Masilela had resigned from the corporation.
Masilela had taken his outstanding leave with immediate effect and Matshepo More had been appointed acting CEO.
"We want to acknowledge Mr Masilela's contribution to the organisation. We wish him well in his future endeavours," the PIC board said in a statement at the time.
Masilela had been CEO since February 2011.
The corporation said he had overseen the growth of assets under management during a difficult economic period globally from just under R1trn in 2010 to above R1.6trn in 2014.
Masilela is a member of the United Nations Global Compact and would remain a commissioner of the National Planning Commission responsible for the country's growth strategy.
Comment from the PIC was not immediately available.
