Bricks and mortar for PIC's boss

Yet a Google search on Lesiba Maloba yields surprisingly little. In fact, there's been no press coverage of Maloba since he took over the reins from Wayne van der Vent in January last year.

Maloba concedes he's not comfortable in the limelight. "I would rather let my track record speak for itself," he says.

Besides, the amicable Maloba has been busy getting to grips with running SA's largest property portfolio.

The Government Employees Pension Fund's property interests, which the PIC manages, have swelled nearly threefold over the past five years and include stakes in landmark malls such as Sandton City and the V&A Waterfront in Cape Town.

Maloba's key task last year was to restructure the division to help the PIC better manage its rapidly growing real estate portfolio.

"Given the magnitude of the assets we manage, we had to create a new business model to improve our capacity to maximise returns," he says.

One building at a time

Maloba says his philosophy is to look after every building, one property at a time, no matter what its size or value. "You don't leave a property behind," he adds.

He developed a keen interest in bricks and mortar from an early age. "I have always been fascinated by beautiful buildings. But I wasn't sure if I should become an architect or a civil engineer."

After matriculating at Phiri Kolobe High School near Polokwane in 1990, Maloba enrolled for a building science degree at Wits. "It brought both disciplines nicely together."

In 1993, he won a scholarship to further his studies in the US and after completing a bachelor's and a master's degree in urban planning at the University of Cincinnati in Ohio, Maloba stayed in the US for five years, working as a location analyst for a retail property consulting firm.

On his return to SA in 2003, he joined Old Mutual Properties, where he honed his skills as a retail asset manager. In 2007 he went into the private property development and investment sector.

Maloba believes the fact that he brings both an institutional and an entrepreneurial mind-set to the PIC is an important strength.

His parents, now retired, were government employees all their lives. "Their livelihoods are linked to how well I help manage their pension fund's assets. It's an enormous responsibility," he added.

Source: Financial Mail via I-Net Bridge