Advisory firm launches ‘aggressive’ African growth strategy
Sanlam Private Wealth (SPW), is adopting an “aggressive growth strategy” according to Africa managing director Shane Tremeer.
Africa
-
-
Analysis: Political uncertainty keeps South African advisers in limbo
As South African financial advisers await the election of president Jacob Zuma’s successor with bated breath, where this political uncertainty leaves the implementation of the Twin Peaks reforms and the next phases of RDR is anyone’s guess.
-
Sanlam acquires Uganda’s Lion Assurance Company
In a move to expand its visibility in east Africa, Sanlam Emerging Markets (SEM) has acquired Uganda’s Lion Assurance Company for a purchase price of $6.5m.
-
DeVere abandons part of South Africa court appeal
DeVere Investment has dropped two of the three points of appeal it lodged after losing a South Africa Labour Appeal Court ruling that it had to pay fired area manager Ross Pennell outstanding commission, notice, and an unpaid bonus.
-
Mauritius acquisition boosts Sanlam’s pan-Africa strategy
South African financial services group Sanlam is focusing on Mauritius offshore services as part of its pan-African growth strategy.
-
Investec Life launches in South Africa
Investec has added life insurance to its banking and investment services offering in South Africa.
-
Old Mutual sells majority stake in Nedbank
Old Mutual will reduce its 54% stake in South African lender Nedbank to 19.9% as part of its ongoing plans to restructure and separate its business.
-
Analysis: South Africa’s commission conundrum continues
Upfront commission remains a burning issue in South Africa, as the nation’s financial advice sector awaits the regulator’s next move following the signing of the ‘Twin Peaks’ legislation into law.
-
Trust acquisition adds Asia presence to $95bn offshore specialist
Bermuda-based Bank of N.T. Butterfield & Son will establish an Asia presence following its acquisition of Deutsche Bank’s Global Trust Solutions (GTS) business.
-
Guernsey waives promoter licences for over 100 territories
Investment promoters from a host of countries and territories will no longer have to obtain a licence from the Guernsey Financial Services Commission (GFSC) if their main place of business is in one of more than 100 jurisdictions.
-
South Africa’s Sanlam Life buys Barclays-owned consulting arm
South Africa-headquartered Sanlam Life Insurance has agreed to buy Barclays Bank owned subsidiary Absa Consultants and Actuaries (ACA) for R285m (£16.1m, $21.4m).
-
DeVere expands fintech offering with investment app
Clients will be able to buy structured notes, ETFs and mutual funds via an execution-only investment app launched by deVere Group on Wednesday.