The financial services industry is mourning the passing of an “outstanding leader”, Desmond Smith.
Smith passed away earlier today from cancer.
He was appointed non-executive director on the boards of Sanlam and Sanlam Life Insurance in 2009. Smith joined Sanlam in 1968, where he became MD in 1993. He retired from Sanlam at the end of 1997.
He served as MD of RGA (Reinsurance Group of America South Africa) from 1999 to 2005.
He was a past president of the Pensions Institute of Southern Africa, and the Actuarial Society of South Africa.
Smith served on a number of committees of the Society and the International Actuarial Association. He was also chairman of the Life Offices Association of South Africa (LOA) in 1996, 2004, and 2008.
He was past chairman of the Council of Stellenbosch University and served on the advisory board of the university’s Graduate School of Business. Smith was also chairman of the Stellenbosch Institute for Advanced Studies.
He served on the advisory committee on long-term insurance and the Council of the Ombudsman for Long-term Insurance. He was also a director of other companies through his career.
Smith held the following qualifications: BSc (cum laude) (University of Stellenbosch); FASSA ISMP (Harvard Business School). He was born in Port Elizabeth on June 21, 1947, and is survived by his wife, daughter and son.
BUSINESS REPORT