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ALEXANDER FORBES GROUP HOLDINGS LIMITED APPOINTS NEW GROUP CHIEF EXECUTIVE: ANDREW DARFOOR •
Appointment made after an extensive local and international search.
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New Group Chief Executive to continue with the Group’s key focus on securing the financial well-being of its clients.
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Group remains focused on its strategic intent to drive growth, ensuring organisational integrity.
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New Group Chief Executive says Alexander Forbes is well positioned to meet the financial well-being of its clients through an integrated proposition across retirement, wealth management, investments, health and protection advice and solutions.
Johannesburg, 24th August 2016 Alexander Forbes Group Holdings Limited today announced that it has appointed Andrew Darfoor as Group Chief Executive with effect from 1 September 2016. Sello Moloko, Executive Chairman of Alexander Forbes, says Andrew Darfoor was appointed following an extensive executive local and international search to identify a suitable candidate who will steer the group towards its next growth phase as a leading financial services group in South Africa and in the rest of Africa. “We are pleased that following an extensive search during which an impressive list of talented candidates were interviewed, the board has selected Andrew Darfoor as Group Chief Executive. Andrew is a high calibre leader with global financial services experience and a track record of strategic business growth. We are confident that he will work well with his executive management team to provide the leadership needed to successfully implement the strategic transformation of Alexander Forbes,” says Moloko. Upon Darfoor’s appointment and also with effect from 1 September 2016, Sello Moloko reverts to his role as Non-Executive Chairman. Deon Viljoen, having not made himself available for consideration of this role, resumes his position as Group Chief Financial Officer. Moloko said, “I wish to express the board’s sincerest appreciation to Deon for his commitment and strong leadership during the transition period.” Darfoor says he is deeply honoured to have been given the opportunity to lead Alexander Forbes, which he describes as a truly iconic and globally distinctive African financial services company with a proud 81 year heritage and tremendous future prospects. “With consumers taking a deeper interest in their personal well-being, Alexander Forbes is well positioned to meet this need with an integrated proposition across retirement, wealth management, investments, health and protection advice and solutions. I very much look forward to working with the Alexander Forbes team and all Alexander Forbes stakeholders as we continue to pursue and execute this vision,” says Darfoor. Darfoor has over 20 years’ experience in the financial services sector gained in countries such as Bermuda, Canada, Switzerland, the United States and the United Kingdom. Previously, he was
Chief Executive Officer at Sun Life Financial International, a division of Sun Life Assurance Company of Canada, leading a division providing life insurance, protection, savings and wealth management solutions across 50 countries in Asia, Middle East/Africa, Europe and the Americas managing circa $15 billion in assets. Prior to this, Darfoor held a number of senior leadership roles at Old Mutual Plc, where he was President and CEO of Old Mutual (Bermuda) Ltd., and oversaw all aspects of the business, including sales, marketing, investments, HR, finance, actuarial and operations. Darfoor joined Old Mutual Plc as Regional Financial Controller for the North American businesses in October 2007 and was appointed Chief Operating Officer for the Bermuda business in March 2009 before assuming the CEO position in March 2010. He also previously held international management positions focused on strategy and business development at Credit Suisse AG, UBS AG and Ernst & Young LLP. Darfoor received a B.Sc. in Economics from Queens Mary College, University of London and an MBA from Cranfield School of Management, UK. He also completed executive management programmes at Harvard (US) and Insead (France) Business Schools. Andrew is an Associate of the Institute of Chartered Management Accountants, holding the ACMA and CGMA designations and is a member of the Securities and Investment Institute (UK). Darfoor, a citizen of the United Kingdom, has received his 90 day work permit, and his long term work visa is expected to be issued during this period. Ends
CONTACT INFORMATION Alexander Forbes: Lynn Stevens, Group
[email protected]; +27 (0) 82 658 3408
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[email protected]; +27 (0) 83 5444 392 INFORMATION ON ALEXANDER FORBES Alexander Forbes is a specialised financial services group headquartered in South Africa focusing on employee benefits solutions for institutional clients, and financial wellbeing and retail financial solutions for individual clients, in particular employees of the Group’s institutional clients. Alexander Forbes is listed on the Johannesburg Stock Exchange (“JSE”), and its primary clients span both the private and public sector market segments, including employers, retirement, health, investment and other special purpose funds on the institutional side, and individual members and beneficiaries of these funds, as well as the wider individual market, on the retail side. The main services provided by the Group include retirement funds and asset consulting, actuarial, investment and administration services, employee risk benefits and healthcare consulting, personal lines insurance, individual financial advisory and multi-manager investment solutions. Alexander Forbes’ principal geographic focus is in South Africa, where it has been operating since 1935, sub-Saharan Africa, the UK and other selected jurisdictions which have employee benefits legislative frameworks similar to South Africa. www.alexanderforbes.co.za
