Sanlam UK has continued the integration of its private wealth and wealth planning businesses with the creation of a wealth management division to encompass both areas.
The move is accompanied by a series of senior appointments, with John White, the former RSM Tenon CEO and more recently former A J Gallacher COO, leading the new division and the private wealth business. Alex Morley will report into White, while continuing to act as CEO for the wealth planning arm of the firm.
Morley will also lead the launch of the firm's 'Sanlam Partners' partnership programme. This is an initiative that will give "culturally aligned financial planning firms" the ability to use some of Sanlam's processes, expertise and proposition. The aim is to help such firms grow their business and potentially, at a later stage, join the group.
Other senior appointments see Alfio Tagliabue, currently Sanlam UK's CFO, made CEO of the group's boutique asset manager Sanlam FOUR, while Jeremy Gibson, current CEO of Sanlam Investments and Pensions, becomes interim CFO for the group. Graham Hooper, formerly of Miton Group and Charles Stanley, has joined Sanlam UK as distribution director.
The changes are part of Sanlam group CEO Jonathan Polin's plans for the company to become a market leader in the UK, providing clients with holistic advice, investment and asset management through an integrated proposition.
Polin (pictured) said: "The integration of our private wealth and wealth planning arms is vital to deliver a focused and highly skilled wealth management business that puts financial planning at its heart.
"This will be at the forefront of everything we do. Our proposed partnership programme will be a significant accelerator of our plans."
He added: "We have significant experience in our service divisions, an AA+ rated parent and a broad UK footprint, so we are in a position of strength."
The developments follow the firm's consolidation at the end of last year, which brought together Sanlam Wealth Planning; Sanlam Private Wealth; life and pensions business Sanlam Investments & Pensions; asset manager Sanlam FOUR; and provider of institutional and retail stockbroking services Sanlam Securities, under the name of Sanlam UK.
In June last year Sanlam also bought a 20% stake in the Caerus network and, prior to this, obtained a controlling stake in FOUR capital, forming the Sanlam FOUR boutique asset management and fund arm of the business.
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