PRETORIA – The head of private equity and structured investment products at the Public Investment Corporation, Mervin Muller, decried the lack of transparency and retrospective interference by the shareholder in staff incentives.
“The lack of transparency created a perception, rightly or wrongly, that favouritism was rife in the application of these principles. In my department, it created massive gaps between peers and I was not in a position as the head of department to explain the reasons to them,” he said. “I raised a concern on how I cannot be involved in analysing my own staff prior to approval of these new grades, but confidentiality of the information was always used as an excuse,” he said.
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