Share

Sasfin Wealth appoints new CEO

Johannesburg – Sasfin Wealth has appointed a new CEO to take over the reins from Michael Sassoon.

According to a statement released by the wealth management company on Tuesday, Erol Zeki founder of SIPP Investments has been appointed as chief executive. Zeki has 17 years of experience in the industry and has been chief executive of FNB Securities and BJM Private Client Services.

Sassoon will continue to serve as an executive director of Sasfin Holdings and board member of Sasfin Wealth.

“Since Erol has direct portfolio management experience, has run a large private client business in FNB Securities and has established a successful technology-based financial services business, we are confident that this combination of experience is unusual in the market and places Erol in a strong position to lead our business in its next stage of growth,” said Sassoon.

Sasfin has also entered into an agreement to acquire SIPP Investments -this is independent of Zeki’s appointment, the company said. This agreement is still subject to approval by the Reserve Bank, said Bryan Silke, communications manager.

SIPP Investments, which has built strong technology and financial services capabilities, would complement Sasfin’s offering to deliver “seamless solutions”. Sasfin plans to integrate SIPP Investments products and solutions in the coming months. 

In September Sasfin announced that after 18 years it would no longer have KPMG as its JSE sponsor and auditor over the company’s implication in the Gupta saga. 

The share closed 1.48% higher at R48.76 on the JSE.

SUBSCRIBE FOR FREE UPDATE: Get Fin24's top morning business news and opinions in your inbox.

Read Fin24's top stories trending on Twitter:

We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
18.90
+0.2%
Rand - Pound
23.85
+0.2%
Rand - Euro
20.39
+0.2%
Rand - Aus dollar
12.31
+0.2%
Rand - Yen
0.12
+0.1%
Platinum
908.05
0.0%
Palladium
1,014.94
0.0%
Gold
2,232.75
-0.0%
Silver
24.95
-0.1%
Brent Crude
87.00
+1.8%
Top 40
68,346
0.0%
All Share
74,536
0.0%
Resource 10
57,251
0.0%
Industrial 25
103,936
0.0%
Financial 15
16,502
0.0%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders