Company news

SA’s Imperial CEO resignsSouth Africa’s Imperial Holdings Ltd said on Wednesday CEO Mark Lamberti will resign at the end of the month following a court judgement against him involving a remarks he made to an ex-employee at one of Imperial’s units.Osman Arbee, currently CEO of the Imperial division Motus, will replace Lamberti at the start of May, the company said in a statement.-Nampa/ReutersCredit Suisse gets license in PhilippinesCredit Suisse Group AG said on Thursday it has received regulatory approval to launch its wealth management business in the Philippines, allowing the Swiss bank to tap the growing onshore wealth in the Southeast Asian country.Credit Suisse has received a license from the Securities and Exchange Commission and approval from the central bank, Bangko Sentral ng Pilipinas, to set up a representative office for its wealth management business, it said in a statement.-Nampa/ReutersUber picks VMware's Zane Rowe as CFOUber Technologies Inc has picked VMware Inc’s Zane Rowe as the top candidate for chief financial officer to lead preparations for the ride-hailing company’s initial public offering in 2019, Bloomberg reported on Wednesday.The Silicon Valley startup is in advanced talks with Rowe, who is currently CFO at VMware, Bloomberg reported, citing people familiar with the matter.-Nampa/ReutersP&G to buy German Merck's consumer health business Procter & Gamble Co agreed to acquire the consumer health business of German pharmaceuticals company Merck KGaA for about 3.4 billion euros (US$4.21 billion) in cash, the companies said on Thursday.P&G said the acquisition will enable it to expand its portfolio of consumer healthcare capabilities and brands. Merck’s consumer health unit includes brands such as Femibion, Neurobion, Nasivin and Seven Seas.-Nampa/ReutersNigeria Wema Bank to start second tranche of 50b naira debt programmeNigeria’s Wema Bank plans to start issuing the second tranche of a Tier II capital increase next month, part of a 50 billion naira (US$159 million) programme, its deputy chief executive said on Wednesday.Ademola Adebise said the mid-tier lender hoped to boost its capital ratio, which is at 14.3% , higher than the regulatory minimum of 10%.Wema expects 10% loan growth in 2018 targeting small firms, compared with a 4.92% drop in loan volume last year. The bank had aimed to grow loans by 1.5% in 2017.-Nampa/Reuters

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