Sasfin Announces Investment and Asset Management D
Sasfin Announces Investment and Asset Management Division
SASFIN HOLDINGS LIMITED
ISIN CODE : ZAE000006565
SHARE CODE : SFN
Banking and financial services group Sasfin has launched Sasfin Investment and
Asset Managers (SIAM), a division formed to maximise delivery of its
GlobalWealthCreation services to its predominantly private client base. It has
also increased the range of complementary services offered to clients.
Making the announcement, Sasfin executive director and SIAM CEO Alan Greenstein
said, "The overriding rationale for SIAM is to complete the strategy initiated
last year and to deliver a holistic, one-stop wealth management service to
clients.
"In SIAM we have consolidated our stockbroking, portfolio management and
financial advisory businesses under one divisional umbrella and a single
management team. We have also introduced fiduciary services, foreign exchange
(in association with American Express Foreign Exchange), personnel recruitment
and insurance broking, in addition to our existing healthcare and employee
benefits offerings. This means we now have a comprehensive and meaningful array
of products and services to offer clients across the Sasfin group."
Complementing the group`s wealth creation businesses and working in
collaboration with other group divisions, Sasfin Fiduciary Services (SFS) offers
wealth preservation services through testamentary planning and the
administration of trusts, estate planning, international asset planning and
structures and general advisory services, such as onshore company formation and
consulting services on tax-efficient structures. Highly experienced and regarded
financial services consultant Advocate Tony Davey has joined Sasfin to head SFS.
Sasfin recently reported sound results in a turbulent small banking sector and
improved its competitive position in a dwindling field. For the year to 30 June
2002, assets rose 26.1% to R1.2 billion and gross advances grew by 37.4% to R816
million. Headline earning per share increased by 8.8% and attributable earnings
by 26.8% to R34.4 million, with NAV increasing 15.5% per share.
Ends
ISSUED FOR : Sasfin Holdings Limited
CONTACT : Alan Greenstein Tel: 011 809 7500
FAX NO : 011 809 7712
E-MAIL : agreenstein@sasfin.com
WEBSITE : www.sasfin.com
ISSUED BY : TISH STEWART PR ASSOCIATES
CONTACT : Tish Stewart (011) 325 4195 Cell: 082 443 6399
FAX NO : (011) 325-4199
E-MAIL : Tish@tspr.co.za
DATE : 20 November 2002
Date: 20/11/2002 03:18:00 PM Produced by the JSE SENS Department
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