SA's largest pension fund administrator, Alexander Forbes, is going through tough times, with a seemingly revolving door in its C-suite, a struggling share price and a badly executed strategy. The business is looking for fresh direction in a market that has not favoured the pension specialist since its relisting on the local bourse more than four years ago. Traditionally, the company has serviced institutional clients through its asset management and consulting business, but recently added more emphasis on growing retail clients that "has been met with scepticism", said Warwick Bam, an analyst at Avior Capital Markets. A long list of strategies The retail strategy is but one in a long list of strategies touted by a series of CEOs in recent years. The most recent reshuffle was the ousting of Andrew Darfoor as its head last month, just two years into the job. It is a decision that he has taken to arbitration. The board quickly replaced him with Dawie de Villiers, head of Sanlam Employ...
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