Inside the fix up at Alex Forbes
By putting the right people in place, CEO Andrew Darfoor hopes to change the fortunes of the financial services group
About a year into the job, Alexander Forbes CEO Andrew Darfoor is finding it hard to bring the group’s disparate fleet of aircraft back into formation. The original Forbes business of consultants and actuaries showed no growth in profit in the six months to September 2017, while its foray into the rest of Africa provided limited rewards — the profit of its rather grandly named Emerging Markets unit was down more than R16m to R3m, barely enough to pay the travel costs to these countries. In particular, income from Botswana fell by 23% as the company lost its dominant client in the country, the Botswana Public Officers Pension Fund.