Niche investment house Plexus has announced the appointment of Paul Stewart (pictured right) as the group's new managing director.
Stewart takes over the reigns from Dr Prieur du Plessis, who now holds the position of executive chairman. His appointment allows Du Plessis to concentrate on strategic issues and broader business development, providing an opportunity for the Plexus Group to make the desired leap from nationally to globally competitive financial services provider.
Stewart, who will focus on the day-to-day operational issues of the group, has 14 years’ experience in the investment industry. He joined the Plexus Group in 2005 as deputy managing director. Previously he was managing director of m Cubed Unit Trust Management Company, and a fund manager at Old Mutual Asset Managers prior to that.
“The business has grown significantly during the past three years as a result of Du Plessis and the team’s leadership, effort and energy, as well as good market conditions,” says Stewart. “My challenge is to consolidate the platform for future expansion and keep Plexus on a growth path in spite of potentially more challenging economic conditions.”
Since Stewart joined Plexus in March 2005, the assets under management/advice have more than doubled to R13 billion. During this period the company also achieved several milestones, including the launch of the PlexCrown Fund Ratings, which is used as the basis for the unit trust industry’s annual Raging Bull Awards, a partnership with world-renowned hedge fund guru John Mauldin and his London-based partner Niels Jensen of Absolute Return Partners LLP, as well as a licensing agreement to distribute products in the Pan-African region managed in line with enhanced Fundamental Index® (eRAFI®) methodology.
Stewart adds, “We have a wonderful group of people working at Plexus on whom we can count to deliver excellent work. I am very excited about tackling whatever ups and downs may lie ahead.”
Desmond Smith, previously managing director of Sanlam and chairman of the Plexus Group, was recently appointed a director of Plexus. Smith also serves as chairman of Santam and the Life Offices’ Association (LOA), and is a director of Reinsurance Group of America and Clover.
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