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Cape Town - Sanlam Private Investments (SPI) is now following emigrating South Africans to Australia by opening an operation there as well.
Chief executive Daniël Kriel says this is not the only reason for expansion into Australia.
Australia is a continuation of SPI's international expansion which began in 2007 with its venture into Britain.
In 2008 the move was into India.
Australia was a natural next step, given the large population of expat South Africans, but that market has many parallels with South Africa and the affluent part of society is growing quickly.
According to one emigration agent, every day about one SA family moves to Australia, says Kriel. The group wants to target former South Africans in that country and continue its relations with existing clients.
The Australian venture, named Calibre Investments, also focuses on wealth management for ordinary investors.
Calibre Investments is a joint venture started by an investment team led by Werner Stals, a former South African well known in investment circles.
Stals previously managed the investment companies of Huysamer Stals, ABN Amro and Hill Samuel in South Africa..
- Sake24.com
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