“At the core of what we do is capital allocation,

– Herman Bosman

Our History

Intro

1977

DEVELOPMENT

RMI’s predecessor, RMH, founded by GT Ferreira, Laurie Dippenaar and Paul Harris. The vision, drive and complementary strengths of this trio created one of South Africa’s leading investment banks and one of South Africa’s most powerful brands.

1985

DEVELOPMENT

Over the years there has been a strong relationship between the founders and Remgro. In 1985 RMB was headed by Johann Rupert, the founder of Remgro. In a transaction in September 1985 the businesses of Rand Consolidated Investments and RMB were merged to form RMH.

1987

DEVELOPMENT

RMH registered as a bank-controlling company.

1992

DEVELOPMENT

  • Momentum acquired
  • Discovery formally launched

NORMALISED EARNINGS

R44 million

1993

DEVELOPMENT

RMH listed

NORMALISED EARNINGS

R100 million exceeded

1995

DEVELOPMENT

Global Resorts formed

1997

NORMALISED EARNINGS

R250 million exceeded

1998

DEVELOPMENT

  • FirstRand formed through the purchase of First National Bank and Southern Life
  • OUTsurance launched when there was hardly any direct

1999

DEVELOPMENT

Discovery lists on the JSE

NORMALISED EARNINGS

R500 million exceeded

2001

NORMALISED EARNINGS

R1 billion exceeded

2004

DEVELOPMENT

Global Resorts sold

NORMALISED EARNINGS

R2 billion exceeded

2006

DEVELOPMENT

R1.2 billion returned to shareholders

2007

NORMALISED EARNINGS

R4 billion exceeded

2008

DEVELOPMENT

Discovery unbundled from FirstRand, RMH invests in direct stake in Discovery

2010

DEVELOPMENT

FirstRand’s wholly-owned subsidiary, Momentum, merged with Metropolitan to form South Africa’s third largest assurer, MMI Holdings. Royal Bafokeng Holdings introduced as RMH’s black empowerment shareholder.

2011

DEVELOPMENT

RMI unbundled from RMH and listed separately.