Peregrine Holdings Ltd. announced that Jan van Niekerk, has advised the board that he will be resigning with effect from 1 April 2013 to pursue new opportunities. Van Niekerk will remain as non-executive chairman of the group's wealth management subsidiary, Citadel Holdings Proprietary Limited. Jonathan Hertz has been appointed as the new group CEO with effect from 1 April 2013.

Hertz, an actuary, originally joined the Peregrine group in August 2000, serving as an executive director and the group's chief operating officer until October 2005. Thereafter Hertz took up the appointment of managing director of Peregrine associate, Caveo Fund Solutions. In 2008, he founded, and has since been the CEO of, another group associate, South Africa Alpha Management Capital.