Glacier by Sanlam completes acquisition of Alexforbes’ individual client administration business
Khanyi Nzukuma, Chief Executive at Glacier by Sanlam
Sanlam has announced the completion of acquiring 100% of Alexforbes’ individual client administration business (Alexander Forbes Individual Client Administration Proprietary Limited and its two wholly owned subsidiaries Alexander Forbes Retail Client Administration Proprietary Limited and Alexander Forbes Nominees Proprietary Limited).
The conditions for the transaction have been fulfilled and the parties will proceed to integrate the businesses. The effective date of the Transaction is 1 March 2023.
Glacier by Sanlam, a subsidiary of Sanlam and leading investment platform in South Africa, will take responsibility for the business from effective date.
Glacier by Sanlam chief executive Khanyi Nzukuma said, “We look forward to welcoming and engaging with our new colleagues and clients, and to unlocking the opportunities for all stakeholders. Service is at the heart of everything we do at Glacier, and we believe this transaction will benefit clients as we fulfil our purpose of growing and protecting their wealth.”
The deal will enhance Sanlam’s competitiveness regarding the provision of Linked Investment Service Provider services and provide individual clients of Alexforbes an enhanced experience through improved administration and user functionality enabled by Glacier’s technological capabilities. Further, a comprehensive set of Alexforbes’ individual client products covering both retirement and savings needs will be administered on the Glacier by Sanlam platform.
ENDS
