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Alexander Forbes Financial Services appoints new CEO

Tony Gusmao has been appointed chief executive of Alexander Forbes Financial Services.

Gusmao has more than 17 years of experience within the global AFFS businesses, most notably as head of the institutional cluster in the company’s South African branch.

He helped build Alexander Forbes’ South African business into one of the leading firms in the nation, providing employee benefits solutions to more than 1,100 employers and 1.2 million employees.

The former chief executive, Grant Stobart, will remain chief executive of Alexander Forbes International and director of AFFS. Alexander Forbes says separating Stobart’s roles will allow him to focus on growing the group’s other UK and European businesses.

Stobart says: “AFFS has been building its renewable revenue over a number of years and is well positioned to capitalise on the growth opportunities in the UK employee benefits and wealth management markets in the run up to and after the implementation of the retail distribution review.

“The market changes in the UK resulting from the RDR will require us to move our DC solutions business towards a fee and asset-based model. Tony’s experience with our South African business will enable us to accelerate our transition, putting AFFS in a strong competitive position.”


Addition and subtraction

The new so-called additional tax rate of 50% could well be a tipping point for many clients to seek tax-saving strategies


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