From that date all Sanlam businesses in the UK will, for the first time, fall under the responsibility and management remit of a single corporate entity, forming a UK group with combined assets under management and influence of nearly £9bn.
The UK group will be known as Sanlam UK and will be comprised of:
* Sanlam Wealth Planning: The national financial adviser.
* Sanlam Private Wealth: The discretionary fund manager.
* Sanlam Investments & Pensions: The life and pensions business.
* Sanlam Four: The boutique asset management and fund solutions business.
* Sanlam Securities: The provider of institutional and retail stockbroking services.
In addition to the above companies, the UK group also has a significant strategic shareholding in the Wrap platform Nucleus, with more than £8bn under administration, and its 20 per cent stake in fixed income specialist, Cameron Hume.
Jonathan Polin, the recently appointed chief executive of Sanlam Private Wealth, will become the new UK group’s chief executive and assume responsibility for all Sanlam’s businesses in the UK.
It was back in October that turnaround king Mr Polin joined Sanlam Private Wealth.
Mr Polin has become the company’s new chief executive just a few months after leaving Ashcourt Rowan as part of the Towry deal.
He spent nearly four years at Ashcourt Rowan, where he transformed the business from a loss-making entity with a market cap of £22m to a business worth £129m.
Mr Polin had previously been sales and marketing director at Ignis where he was involved in the company’s transformation from Britannic, including the creation of its boutiques.
Robert Roux, chief executive of Sanlam Investments, said: “Our long-term success depends on our ability to deliver outstanding customer outcomes and experience.
“For this to be achieved we must work as one with a clear focus, making it simple for our clients to understand us and easier for them to do business with us.
“Jonathan, with his vast experience, is the person to deliver our vision: to be a leading provider of wealth and investment management services in the UK.”
Mr Polin said: “I am delighted to become Sanlam’s UK group chief executive and I welcome the opportunity to lead this next stage of our development in the UK.
“Sanlam is a leading global brand with strong, embedded values, an unshakeable belief in customer centricity and a real understanding of its importance to the community and society as a whole.
“As a single, unified business, with our combined talents and with Sanlam’s significant global strength to support the development of our UK operations, the future is very exciting for our business, for our employees, for our partners and, most importantly, for our customers.”