Edward Kieswetter, the recently appointed CEO of Alexander Forbes, said today that he plans to double the Alexander Forbes’s earnings in five years while continuing to transform the company.
Alexander Forbes is a leading provider of financial, risk and insurance and multi-manager investment solutions internationally with its primary operations in South Africa and the United Kingdom. It also operates in 11 countries in Sub-Saharan Africa.
Kieswetter, who took up his role in January 2010, said that Alexander Forbes will focus on investment led growth, particularly in the retail sector, to reach its targets.
“Our goal is to double our earnings within five years through our strategic focus that is based on a single minded commitment to providing good client value, expanding the Alexander Forbes brand, investing and innovating for growth and extending our sales capacity.”
Kieswetter added that the he has board approval, subject to achieving certain milestones, to spend an initial R235m to kick start his strategic campaign and that a further R430m has also been earmarked for the drive. Clients of the company are expected to benefit through greater product innovation, improved technology enablement and an overall improvement in service.
“We also intend to hire the best talent in the industry and to drive further transformation.
“However we are realistic about the burden of history that black people carry in this country. We will ensure the right people, with the requisite skills are placed in jobs to create an environment where they are best placed to thrive.
“In addition we want to create an environment that nurtures the development of potential. Even after 15 years into our democracy, it can still be hard for black people and women to succeed.”
Kieswetter also noted that he will instil a greater sales and service culture at Alexander Forbes.
“In line with our goal to grow in the retail space, we will employ more people to service clients to provide benefit to them from the enormous intellectual capital within Alexander Forbes.”
Kieswetter concluded that Alexander Forbes remains committed to build a world class organisation known for doing the right thing, having a good reputation, recognised as a phenomenal brand and invested for growth.
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