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S African firm eyes stakeholder market

South African insurance broker Alexander Forbes is aiming to become a

major player in the stakeholder advice market through its 42m acquisition

of IFA Johnstone Douglas.

The company believes the stakeholder market will be worth 80bn and wants a

major slice of it.

The purchase of Johnstone Douglas for a maximum consideration of 42m gives

the company
a foothold in providing advice to the potentially lucrative

small to medium-sized business sector where JD has established a niche.

As part of the deal, Alex^_ander For^_bes will also inh-
erit Chambers

Townsend Consult^_ancy, JD&#39s specialist soft^_ware division, which is

dev^_eloping admin sys-
tems for the stakeholder market.

Alexander Forbes Financial Services executive chairman Leon Lewis says:

“Buying Johnstone Douglas is a highly significant investment in line with

our publicly declared strategy of expanding our financial services

activities globally by acquiring successful businesses with experienced

management teams.”

Johnstone Douglas chairman Doug Johnstone says: “Undoubtedly this is an

important strategic alliance. Stakeholder offers huge potential and

Johnstone Douglas is particularly well placed.”

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