SANLAM LIMITED
News Release
1 August 2001
Sanlam today announced that it has integrated two of its businesses, Sanlam
Personal Finance and Sanlam Employee Benefits, into a single business,
Sanlam Life. The two businesses were Sanlam's strongest brand drivers and
contributed 54% and 10% respectively to the Sanlam Group's operating profit
in the previous financial year.
Sanlam's chief executive officer, Dr Leon Vermaak, says that the integration
of the two businesses is a result of the increasing changes in the markets
they serve and the growing demand over the past two years for individual
choice in employee benefits from the traditional group markets.
"By integrating the two businesses, we can become more client-centric and
cost effective while at the same time improve cross-marketing, sales and
service," he said.
Hendrik Bester, Chief Executive of Sanlam Personal Finance becomes Chief
Executive of Sanlam Life, which will now include individual life business
and employee benefits, Sanlam Unit Trusts, Sanlam Trust and the payroll
administration business, Multi-Data. He will also head Sanlam's
internationalisation initiatives. He is an executive director on the Board
of Sanlam Limited.
Nick Christodoulou, former Chief Executive of Sanlam Employee Benefits
becomes Chief Executive of Business Development, which will be responsible
for Group IT as well as the integrated development of existing and new
product concepts in the Group. He is an alternate director on the Board of
Sanlam Limited.
- Ends -
Issued by Frans van Rensburg, Sanlam Media Relations, tel. (021) 947-4893
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