Sanlam UK has merged its private wealth and wealth planning businesses and house them under a new wealth management division.
The newly created division, Sanlam Partners, will be headed by John White, who was previously COO of employee benefits group A J Gallagher.
Sanlam in a statement said the move was: “a significant new initiative which will give culturally aligned financial planning firms the ability to utilise some of Sanlam’s processes, expertise and proposition to help grow their business and have an opportunity to become part of the Sanlam family through opportunity of practice buyout at a later stage.”
The move is accompanied by a raft of new hires. Alfio Tagliabue, currently CFO of Sanlam UK has been named as the chief executive of boutique asset management arm Sanlam FOUR.
While Sanlam Investments and Pensions chief executive Jeremy Gibson has been appointed as the group’s interim CFO.
The group has hired Graham Hooper, formerly of Miton Group and Charles Stanley, as distribution director.
The company noted that that Alex Morley, the CEO of Sanlam's wealth planning division since 2012, will stay chief executive of the national financial advice business.
Sanlam UK chief executive Jonathan Polin said: "My aim is to create a unified, integrated financial services business recognised for the quality of its advice, asset & discretionary fund management services.
"The integration our private wealth and wealth planning arms is vital to deliver a focused and highly skilled wealth management business that puts financial planning at its heart. This will be at the forefront of everything we do. Our proposed partnership programme will be a significant accelerator of our plans."