BUSINESS DAY TV: SA needs to talk about fees in financial services
Magda Wierzycka, CEO of Sygnia, discusses results for the year to September, and the pace of retrenchments and retirements exceeding new job creation
Magda Wierzycka is CEO of Sygnia BUSINESS DAY TV: FinTech company Sygnia reported an 18% rise in revenue for the year to September and reported a 16% rise in assets under management and administration for the period. But adjusted headline earnings per share took a 12% knock. Magda Wierzycka, CEO of Sygnia, joins us now on the line. Magda, one assumes you’ve ticked the box on your objective of increasing your corporate profile and brand awareness … assets under management up 16%. You’ve seen growth in client numbers as well. Have you hit your targets? Magda Wierzycka: Yes, indeed, we have done well, given the very challenging market conditions that we have faced over the last year. MW: Absolutely. We have seen a 15% growth in our assets on the institutional side, so that’s a multimanager product. Our retail business has grown by 28%. Our index tracking funds have grown by 43%. So it really has been our funds of hedge funds which have, for that matter, grown by 77% in terms of assets ...
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