Why Alexander Forbes plans an African acquisitions trail
Alexander Forbes was "actively looking" for acquisitions in a number of countries including Ghana, Nigeria and Morocco, to expand its emerging markets business after refining its operational clusters and making senior management changes, CEO Andrew Darfoor has said. "We’re not looking for big … transactions but small bolt-on deals to accelerate our strategy," Darfoor said. The diversified financial services company is looking at buying pension fund administrators to bolster its institutional clients division, which incorporates retirement administration, consulting and investment solutions businesses. It is also scouting for financial services companies serving corporate entities. "We think there are countries where pension fund reforms are gaining traction. This is an integral part of our future growth story," said Darfoor. Alexander Forbes has made its operational clusters more client-focused and interwoven, with the institutional cluster dealing with the administration and retire...
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