JOHANNESBURG (Reuters) – South African financial services firm Alexander Forbes Group said its chairman Sello Moloko will retire in August and appointed Moses Kgosana, a non-executive director of the company and a former CEO of KPMG South Africa, as his successor.

Moloko will step down at the end of August after holding the position for nearly 10 years, during which he saw the company through the 2008/09 global financial crisis and its re-listing on the Johannesburg Stock Exchange in 2014.

Chief Executive Andrew Darfoor said he welcomed the appointment of Kgosana, who is currently executive chairman of his own property investment company.

“I am privileged to be handed the reins of a company such as Alexander Forbes with a strong heritage and market leading history in the financial services sector,” Kgosana said in the statement put out by Alexander Forbes.

He will become chairman on Aug. 31.

(Reporting by Nqobile Dludla; Editing by Susan Fenton)