The group has attracted banking executives looking for greater freedom

What drives people to leave the comfort of big corporations and move to lower-profile operations such as Peu Group?

For Peu, where the top executive team comprises mostly exiles from the mainstream corporate world, the common theme seems to be hunger for unfettered personal growth, a chance to make a calculable difference in society, out-of-the-box thinking and a commitment to entrepreneurship. These were the common themes coming from the executives of the black economic empowerment (BEE) group when interviewed by the FM.

Incorporated in 1996, Peu is still a relative newcomer to the SA corporate landscape. It occupies a critical space defined by SA's politics, at a time when some experiences in the BEE arena demonstrate the need for caution. Empowerment does not necessarily equate to commercial sense ; and becoming involved in BEE deals can be similar to entering an economic minefield.

WHAT IT MEANS

• More risk, but also more rewards
• Low-profile firm gets on with the job

A lack of financial strength, cash or collateral, suffered by previously disadvantage individuals has led to the creation of some deceptive financial structures. In the past, some deals have disintegrated because all that glisters in the BEE space may not be gold.

Peu merchant banking executive Thuli Zuma, who joined the group about four months ago, says smaller organisations such as Peu are much more rewarding than big corporations. He is a qualified chartered accountant (CA), with 12 years' experience in investment banking and private equity, and says he was drawn to Peu by its entrepreneurial touch, which is lacking in many other organisations. Without wanting to cast aspersions on the present BEE programme, Zuma says, Peu deserves much respect for walking the entrepreneurial path long before the formation of the programme.

Another of Peu's investment banking executives, Potlako Mophiring, joined Peu in pursuit of what he calls "the full picture exposure of investment".

"At Peu," says Mophiring, "you get broader exposure, starting from the conception of an opportunity, sourcing a particular deal, evaluation and implementation, through to maintenance of the relationships arising from the investment concluded.

"That has contributed enormously to my personal growth over the past four years' service at Peu," says Mophiring, who is also a qualified CA. "I liked Peter's [Malungani] line of thinking, which is reflected in Peu," says Mophiring.

He says Peu is not in the game of signing deals and then standing passively waiting for benefits.

"We have a business model that demands active involvement and adding value to our investee companies. That is fulfilling because you can trace the contribution you have made from conception to deal sourcing, through to seeing the growth in a particular business," says Mophiring.

Financial director Busi Tshili, also a qualified CA, says the low-profile qualities of Malungani and the Peu Group captured her attention.

"I could relate to the style because I do not like the limelight myself," says Tshili.

"At Peu, we concentrate on getting the job done and are not in the business of fame," she says.

Tshili joined Peu in 2001 after working for Telkom for about seven years.

As the financial gatekeeper, Tshili serves on the boards and committees of Peu's underlying investments to ensure she maintains a sound understanding of each business.

Leonard Bruhns, who has 15 years' experience in investment banking, joined Peu in 2004. He says he knew there would be an increase in corporate activity in the BEE space, but needed a good home to pursue those opportunities. He says it was mainly the group's value system that attracted him to Peu.

"Peu has a conservative outlook in terms of assessing potential deals, which delivers value in the end," he says. "I also liked the strong operational element in the group."

All these characteristics seem to epitomise the man at the top of Peu Group - MD and founder Malungani.