Major shifts in the world investments and many regulations and low-return environment has pushed Sanlam Investments (SI) into shaking up its operating structure.
SI, the investment arm of the JSE-listed Sanlam Group, announced that it was repositioning its South African investment businesses.
From November 1 2013, two client-facing businesses Sanlam Investments: Institutional and Sanlam Investments: Retail will be established. Both will be serviced by a single investment unit, the Investment Core, which will house all onshore investment capabilities.
Three executives will head the new units. Cora Fernandez has been appointed as Chief Executive Institutional. Carl Roothman will hold the position of Chief Executive Retail. Nersan Naidoo has been appointed Chief Executive Investment Core.
Sanlam said is part of the company’s response to the Treating Customers Fairly regulations and the many changes facing the investment industry globally, including a low-return investment environment and changing customer behaviour.
Johan van der Merwe, CEO of Sanlam Investments, said SI was already showing strong growth but the desire to tackle the changes facing the investment industry head-on precipitated these changes. “Where previously we were organised into disciplines that at times had some overlap, the two new businesses will allow for increased focus on our two client types – individual and institutional. We will be better positioned to understand these clients and deliver to them.”
Van der Merwe said strong leadership will be key to the success of the changes and added that has full confidence in the three individuals who will take the helm of the three divisions.
Cora Fernandez, CEO of SIM since January 2012, and before that CEO at Sanlam Private Equity since 2006, will be tasked with building Business2Business credentials among institutional clients. “Cora’s personal credentials in both the asset management and private equity space make her an exceptional candidate for this post.”
A new appointee to Sanlam Investments, Carl Roothman will hold the position of Chief Executive Retail. “Carl has a strong financial services background, is highly experienced in the wealth space and has a deep understanding of the needs of individual investors and professional financial advisors. We have no doubt the business is in extremely capable hands.”
Sanlam Investments stalwart Nersan Naidoo has been appointed Chief Executive Investment Core. Naidoo has been at the helm of Sanlam Multi Management International since 2009 and with the Sanlam Group since 2002. “Nersan’s experience in developing and executing strategies where the value chain from client through product factory is integrated makes him our best candidate to head up the Investment Core.”
Van der Merwe concluded, “The changes apply to our core onshore investment businesses. Businesses which service other geographies or client groupings are unaffected from the arrangement for now, although efforts to achieve optimal alignment across the board in the interest of our clients will continue.”