Products and services will be available in the markets where one or both companies currently operate. Namibia will be included at a later stage, but South Africa is excluded from the agreement.

The collaboration is expected to have a combined group equity value of approximately R35bn (£1.5bn, $1.7bn, €1.8bn).

SanlamAllianz priorities include providing greater access to products and services through digital innovation; using both firms’ telecommunications and bancassurance partnerships to create new opportunities across Africa; and growing the life and general insurance businesses.

Heinie Werth, the current chief executive of Sanlam Emerging Markets, has been appointed chief executive of SanlamAllianz. He has held various executive positions, including finance director, during his 25-year career at Sanlam.

‘Significant step forward’

Paul Hanratty, Sanlam Group chief executive, said: “We are confident that SanlamAllianz will create significant value for clients, shareholders and other stakeholders. The combined expertise and resources of our respective companies will enable us to provide innovative solutions and services to meet the ever-evolving needs of our clients on the African continent.

“The joint venture marks a significant step forward in further implementing Sanlam group’s strategy that we have pursued over the past few years. Opportunities to improve insurance penetration in Africa abound for those with the right combination of financial strength, scale, new technology and a tangible commitment to the customer.”

Christopher Townsend, board member of Allianz SE, added: “With this powerful partnership, we want to unlock the potential of multiple fast-growing African markets and access a wider range of customers, particularly in the corporate segment. Allianz is deepening its commitment to this vibrant continent and is building on our 100-year legacy here.”

The asset manager has announced Stephanie Bruce will step down as chief financial officer.

She will remain with the Group until 31 December 2023 to support an orderly transition and an announcement regarding her successor will be made in due course.

Stonehage Fleming

The multi-family office has appointed Sarah Bartram-Lora Reina as a trustee director in the Jersey family office division.

She joins from Ocorian, where she was an executive director.

Also joining Stonehage Fleming’s Jersey family office team is Claire Strecker as a director in risk and compliance.

She joins from Hawksford, where she was a fund compliance manager.

The firm has also hired client relationship manager Ashley Correia, compliance manager Kim Wink, and senior client accountant Henry Mehigan.

Canada Life

The insurance group has appointed Dave Sutton as customer services director.

He replacing Tracy Woodward, who takes up the role of director of compliance and regulatory affairs.

Sutton was previously head of business management for the chief operating officer’s office.

He has been with Canada Life for 22 years in a variety of roles across operations, change strategy and wealth, and lives on the Isle of Man.

Pacific Asset Management (PAM)

The London-based asset manager has hired Elliott Kibble as associate director in the UK adviser solutions distribution team.

He joins PAM following a number of years at LGT Wealth Management, most recently as business development director, where he was responsible for developing relationships across the north of England.

Veritas Wealth

Zachary Clabon has joined the Duba-based firm as director of operations and business development, according to his Linkedin profile.

He was previously at Skybound Wealth Management, where he was head of business development for UAE.

Sanlam Investments

Ben Hall has joined the firm’s wholesale distribution team as a sales director.

He was most recently at Atlantic House, where he was a senior sales executive for two years.

Broadstone

The independent pensions consultancy firm has named Kylie Arbon as its head of transformation.

She brings over 12 years of experience in the pensions industry as an actuary and consultant. She worked at BBS Consultants & Actuaries from 2011 before it was acquired by Broadstone in 2019.

IQ-EQ

The financial services provider has named Ilias Georgopoulos as global head of private and institutional asset owners.

Most recently, he was chief executive of Credit Suisse’s multi-concept fund management in Luxembourg.

Natixis Investment Managers Singapore

Rushil Khanna joins the business as head of equity investments for the region.

Prior to joining Natixis IM, he held various roles at Credit Suisse Asset Management most recently as head of equities for Asia Pacific and lead portfolio manager based in Singapore.

Oberon Investments

The London-based investment boutique has hired WH Ireland investment manager Mark Burtenshaw.

At WH Ireland, he was responsible for advising a portfolio of private clients while also heading the firm’s London office.

With 18 years in industry, Burtenshaw has also held roles at Morgan Stanley and RBC Wealth Management.

The savings, investment and protection provider announced that Mark Hartigan has confirmed his intention to step down as interim chief executive and a member of the board.

The process to appoint a permanent chief executive is already underway.

Hartigan has agreed that he will remain in his interim role while the search for his successor takes place.

Financial Ombudsman Service

James Dipple-Johnstone has been named deputy chief ombudsman and Karl Khan as chief operating officer of the service.

They will take up their roles by 3 October.

Natixis Investment Managers

Gad Amar has been promoted to head of distribution for western Europe.

Amar joined Natixis IM in October 2021 as international chief product officer.

Canada Life UK

The insurer has hired Cath Goddard as its head of data, insight and Customer relationship management (CRM).

Goddard joins from Aviva, where she was head of data, insight and planning and led customer segmentation, econometrics, customer-led proposition build and innovation for the business.

Crestbridge

The firm has appointed Anne Catherine Grave as country head of Luxembourg.

Prior to joining Crestbridge, Grave was the partner in charge of corporate secretarial services in Deloitte in Luxembourg.

April International

The specialist international private medical insurance provider has hired Agne Gacionyte as UK marketing manager and Roshani Thapa joins as broker sales consultant.

Gacionyte joins from Axa Health, where she held a senior marketing role. Roshani was previously with Aetna International, where she was responsible for providing support to the UK sales and retention teams for SME and large corporate accounts.

Sanlam Wealth

The firm, which will change its name to Atomos from September 2022, has named Paul Gordon as head of medical specialist wealth planners.

Prior to Sanlam Wealth, Gordon spent over 16 years at MacArthur Gordon and was previously at BMA Services for four years.

Boston Multi Family Office

The Isle of Man-headquartered firm has promoted three employees.

Mary Smith has been promoted to client accounting manager within its accounts team.

Helen Hall and Rachael Hughes have both been promoted to senior managers.

Robeco

The investment firm has hired Aliki Rouffiac as sustainable portfolio manager.

Rouffiac joins from Pictet, where she was a multi-asset investment manager.

The wealth manager will formally adopt the name ‘Atomos’ later in 2022, which means ‘indivisible’ in ancient Greek and was chosen “to represent a strong internal culture of collaboration, inclusivity and diverse perspectives”.

“It also suggests harmony between history, heritage and forward-thinking progress. For clients, this signifies the benefits of Atomos’ personalised digital approach to wealth management,” the firm said.

Atomos, which has the ambition to be the “first truly digitally-enabled, hybrid wealth business in the UK”, will offer clients their own financial hub, with all their financial information in one place, from banking and credit cards to investments.

“They will be able to personalise how they interact with the company, whether digitally, face-to-face or a hybrid of the two,” it said.

Senior line up

In February, the business announced new appointments to its executive committee including Haig Bathgate as head of investments, Niral Parekh as chief operating officer and Christopher Kraft as chief commercial officer.

Nicola Fraser remains chief financial officer and Jonathan Polin is chief executive.

More recently, the executive committee has been joined by Emma Browning who takes up the role as assurance director.

Polin said: “We are delighted to announce our new name, which we feel truly reflects the business we are. The opportunity to forge a new identity and set clear aspirations for our culture and client service is the first vital step which differentiates us from an industry that has become homogenised.”

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The unnamed joint venture will house business units from both companies in the 29 African countries where either firm currently has a presence.

Namibia will be included at a later date and South Africa will be excluded from the agreement.

Under the partnership, Sanlam and Allianz will merge current and future operations across the continent, they said.

The joint venture is expected to have a combined total group equity value in excess of ZAR33bn (£1.7bn, $2.2bn, €2bn).

The chairmanship of the entity will rotate every two years between the two insurers, while its chief executive will be named in due course.

The partnership is subject to customary conditions, including regulatory approvals for each jurisdiction.

Expansion

Sanlam Group chief executive Paul Hanratty said: “In line with Sanlam’s stated ambition to be a leading Pan-African financial services group, the proposed joint venture will enable us to take a significant step towards realising that ambition. It will also strengthen our leadership position in multiple key markets that are core to our Africa strategy, building quality and scale where it matters.

“We are delighted to have Allianz as partners and believe their expertise and financial strength will add tremendous value to our businesses.”

Christopher Townsend, member of the board of management of Allianz, added: “In accordance with our enterprise strategy to expand our leadership position through scale and new partnership models, Allianz is pleased to accelerate its growth in this important region through a partnership with the undisputed market leader.

“Sanlam’s capabilities extend our local reach and market penetration, and the joint venture allows us to establish leading positions in key growth markets for Allianz.”