FirstRand

History

RMB records that Ferreira, Dippenaar and Harris founded a small structuring house in 1977 with R10,000 of start-up capital. That business evolved into Rand Merchant Bank. ^[1]

FirstRand was created later, in 1998. A FirstRand chairman’s report identifies the three men as the founding trio behind the group’s entrepreneurial heritage and specifically describes Ferreira and Dippenaar as founders of FirstRand. ^[2]

Key milestones

1. 1977

   Ferreira, Dippenaar and Harris founded the small financial structuring business that became RMB. ^[1]

2. 1998

   FirstRand was created, bringing the group’s banking and financial interests together. ^[2]

3. 2008

   GT Ferreira stepped down as FirstRand chairman in November 2008. ^[3]

Founded / co-founded by

• Laurie Dippenaar — South African banker and entrepreneur who co-founded the business that became Rand Merchant Bank and later helped create FirstRand.
• GT Ferreira — South African banker and entrepreneur who co-founded the business that became Rand Merchant Bank and later chaired FirstRand.
• Paul Harris — South African banker and entrepreneur who co-founded the business that became Rand Merchant Bank and was part of FirstRand’s founding trio.

Related articles

• The Entrepreneurs Behind South Africa’s Major Banks
  A sourced guide to the founders and company builders behind Capitec, Rand Merchant Bank and FirstRand, and why the difference between a founder and a later builder matters.

Sources

1. Rand Merchant Bank, Sustainability Report 2010: Corporate profile, 2010-06-30. Original source. Accessed 2026-09-25. ↩
2. FirstRand, Chairman’s report 2018, 2018-06-30. Original source. Accessed 2026-09-25. ↩
3. FirstRand, Chairman’s statement 2009, 2009-06-30. Original source. Accessed 2026-09-25. ↩