Barnard Jacobs Mellet Holdings (BJMH) has named Andile Mazwai as chief executive to replace Kevin Jacobs.

Mellet started his career at Sanlam. BJM, which he established in 1985 with Paul Barnard and Kevin Jacobs, was the first stockbrokerage to list on the JSE.

South Africa's No. 2 bank FirstRand <FSRJ.J> will buy investment firm Barnard Jacobs Mellet <BJMJ.J> for 450 million rand ($59.73 million) to offer new stockbroking products to its rich clients.

Stock broking firm BJM , which owns Barnard Jacobs Mellet Securities, said on Monday it had entered into an agreement with Renaissance to sell Barnard Jacobs Mellet Securities to unlock value for ...