Nedbank Capital Mining Analyst Sternberg Leaves to Join SBG

Nedbank Capital, a unit of Nedbank Group Ltd., said Heidi Sternberg, a mining analyst at the company’s cash equities business, left the firm to join Standard Bank Group Ltd.’s securities division.

SBG is paying high salaries, Nedbank Capital Chief Executive Officer Brian Kennedy said in a telephone interview from Johannesburg yesterday. The pay scales in the equities market in South Africa may be “out of kilter” with the returns on offer because of increased competition, he said.