Mr Desmond Smith, Chairman of the Board STIAS, was elected as President of the International Actuarial Association (IAA) at its recent congress in Austria. Smith is the first person from Africa to become the leader of this prestigious body representing 75 member countries. According to Peter Doyle, current President of the Actuarial Society of South Africa, his election is proof of the high international regard for the contribution of the South African profession to actuarial innovation. Smith plays a leading role in the ongoing improvement and renewal of actuarial training locally and internationally. Smith says that he was inspired by a quote from Francis Bacon to give back to the profession which has opened doors for him: “I hold every man a debtor to his profession.” Smith studied at Stellenbosch University before becoming a prominent business leader. He is Chairman of Sanlam, serves on various boards, and was also a former Chairman of the Council of the University. At STIAS he has played and invaluable role in the establishment of the Institute and its growing international profile.
Caption: Changing of the guard: Mr Desmond Smith, Chairman of STIAS, is inaugurated as President of the International Actuarial Association (IAA).