Sasfin Wealth appoints new CEO

Sasfin has announced that it has appointed Erol Zeki as the new CEO of Sasfin Wealth.

Zeki will be taking over from Michael Sassoon, who will continue as an executive director of Sasfin Holdings and a board member of all the Sasfin Wealth businesses.

The executive joins from SIPP Investments, a financial services business that he founded three years ago.

Prior to founding SIPP Investments, Zeki was the CEO at FNB Securities, previously BJM Private Client Services. During his 14 years at BJM, he held various positions including that of stockbroker, portfolio manager and later, CEO.

During his tenure, he was responsible for integrating BJM into FNB and managed the subsequent re-branding to FNB Securities.

He holds a B.Com in Investments and Marketing and B.Com (honours) in Investments and Securities from the University of Pretoria. In addition, he is a CFA charter holder and is a registered member of the South African Institute of Stockbrokers (SAIS).

Acquisition of SIPP

According to Sasfin, independent of Zeki’s appointment, the group has entered into an agreement to acquire SIPP Investments.

“The business has built strong technology and financial services capabilities which can complement Sasfin Wealth in delivering seamless solutions via wealth managers, portfolio managers and independent financial advisors to the investor community,” the group said.

Some of SIPP’s current offering includes managed segregated portfolios, a range of SIPP branded tax efficient wrappers, online financial needs analysis tools and an advisor portal for independent financial advisors to electronically on-boarding and service clients. SIPP primarily markets its solutions and tools to independent financial advisors.

This offering will be integrated into the Sasfin Wealth suite of products and solutions over the coming months, it said.

Read: Sasfin dumps KPMG after 18 years

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Sasfin Wealth appoints new CEO