Sasfin MD Emigrating

December 1 - Sasfin, a leading South African financial organization that boasts banking, wealth management and insurance services, has announced the emigration plans of its current Managing Director, Alan Greenstein.

Sasfin said that Greenstein would be ending his role as MD at the end of the current year and will be emigrating to Australia with his family.

When asked about his reasons for leaving, Greenstein would not say any more than: "There is no 'background' here, and I'm not going to make any comment. I made the decisions for personal reasons, acting in the best interests of my family, and that's all there is to say."

It is generally believed that Greenstein, as most worried parents, fears for the future of his children in an increasingly violent South African society, and prefers to move his family to Australia while the children were still young. "He isn't optimistic about the situation here," said an unnamed Sasfin colleague.

In the meantime, Sasfin has announced that it intends to replace Greenstein as soon as possible, and that the new MD will most likely come from within the company. Greenstein's responsibilities will be split among a number of Sasfin executives until a replacement is found.

Greenstein's resignation from Sasfin marks yet another departure of a top executive from the South African corporate world. In the past few months, several top businessmen have announced their intentions to leave, including the Chief Executive Officer of Simmer and Jack, Gordon Miller, who has relocated to Canada, and the head of MasterCard South Africa, Eddie Grobler, who transferred to Australia.