Category Investments

Black-owned asset manager set on driving transformation in the sector

28 September 2021 BlueAlpha Investment Management
Richard Pitt, CEO of BlueAlpha Investment Management

Richard Pitt, CEO of BlueAlpha Investment Management

Peggy-Sue Khumalo, Non-Executive Director of BlueAlpha Investment Management

Peggy-Sue Khumalo, Non-Executive Director of BlueAlpha Investment Management

With a 17-year track record in delivering true value for its institutional and retail investors, BlueAlpha Investment Management continues to make strides in growing its business while maintaining a focused commitment to transformation in South Africa.

According to Richard Pitt, CEO of BlueAlpha Investment Management, the company’s approach is centered on its ability to attract the right people that enable it to bring about transformation and growth within both the sector and the country. “The appointment of Khumalo confirms our commitment to transformation and growth, and is another big step in the BlueAlpha transformation journey.”

Following a deal with Crede Capital Partners, who acquired a majority shareholding in the award-winning asset management company in January 2020, BlueAlpha is proud to announce that it has appointed industry heavyweight, Peggy-Sue Khumalo, as a Non-Executive Director on its board.

Pitt says that Khumalo brings with her a wealth of experience and in-depth knowledge of the industry that will only add to the strong growth trajectory and success of the company.

“Khumalo is an esteemed intellectual and professional with highly regarded business acumen. We believe that the combination of these attributes will provide tremendous value to BlueAlpha and its investors. We are both excited and privileged to have Peggy-Sue as part of our team,” points out Pitt.

Khumalo explains that the decision to partner with BlueAlpha’s leadership team was based on an alignment of values and the mutual goal of creating a more diverse and equitable industry. “Through the people, it brings on board and the investments that it makes, what stood out was their commitment to sustainability, diversity, and empowerment.”

“I am looking forward to being part of BlueAlpha at this incredible turning point in its history. Over and above my fiduciary role, I’m committed to supporting the leadership team to help them grow the business as a formidable black-owned asset manager in the industry,” she adds.

Khumalo was previously at the helm of Standard Bank Wealth South Africa, with the responsibility of looking after assets in excess of R150 billion.

During this time, Khumalo was responsible for custodianship over their short-term and long-term insurance, asset management of retirement funds and high net-worth individuals, and a wide variety of fiduciary services for corporate and commercial clients across an extensive geographical footprint.

Commenting on the appointment, Chairman of BlueAlpha’s board, Sandile Sokhela says that Khumalo is a true embodiment of the progress that is being made by the company to bring a distinct combination of gender diversity, intellectual depth, and experience where it is needed the most to drive business strategy.

With a team that has a combined 80 years of experience, BlueAlpha has a deep understanding of the market and has a global mindset as part of its investment philosophy. This continues to help its business to strengthen its position in the market.

BlueAlpha is committed to delivering alpha in domestic and global portfolios by focusing on investing in companies that yield high returns on invested capital and generate real economic profit for its institutional and retail investors.

Originally founded in 2003, by Uys Meyer and Richard Pitt, the company has grown from strength to strength. Bolstering the company’s expertise, it appointed Gary Quinn as a Portfolio Manager and in 2017 it brought on board Walter Jacobs as its Chief Investment Officer.

With the partnerships with Crede Capital Partners and the appointment of Peggy-Sue as an Independent Non-Executive Director, BlueAlpha is under the stewardship of seasoned investment professionals who can drive growth and deliver successful investment outcomes for its investors.

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