Sanlam eyes merger in move to streamline UK-based operations

Sanlam is to streamline its business in the UK and is considering merging its Sanlam Private Investments (SPI) arm and Sanlam UK brands.

SPI chief executive Craig Massey (pictured) told Investment Week Sanlam UK – which is based in Bristol and offers advisory, wealth management and pensions services – is very similar to the larger SPI business which operates alongside it. As such, he said there is a possibility the two businesses could be merged at some stage, although no timescale is in place. “We run SPI and Sanlam UK and I think it would make sense that we end up with a single company brand and identity so there is no confusion in the marketplace,” he said. “When you have a business built in silos, there can be turf...