Cabs appoints Mpofu as MD

Building society Cabs has appointed Mehluli Mpofu as managing director, replacing Simon Hammond who retires after more than five years at the helm of the Old Mutual Zimbabwe unit.

Mpofu served as the deputy managing director of the banking unit since 2015. He will be deputised by Cecil Tanyaradzwa Ndoro. Cabs said Hammond went on pre-retirement leave from Wednesday.

Mpofu has worked for Old Mutual in various roles, including as managing director of Old Mutual Investment Group (OMIG), Chief Investment Officer in Old Mutual Kenya and Head of Research in OMIG.

Prior to his new role, Ndoro served CABS as Head of Corporate & Institutional Banking since the inception of the department in 2012.