Tony Gusmao has been appointed chief executive of Alexander Forbes Financial Services (AFFS), taking over from Grant Stobart who remains chief executive of Alexander Forbes International (AFI) and continues as a director of AFFS.
The firm says separating the two roles will enable Stobart to focus on the significant growth opportunities of the Alexander Forbes Group’s other UK and European businesses.
Tony Gusmao has over 17 years of experience within the global Alexander Forbes Financial Services businesses, predominantly in South Africa, where he was head of the institutional cluster. This role covered consultants & actuaries, pensions administration, asset consulting and trust services businesses. Stobart says: “AFFS has been building its renewable revenue over a number of years and is well positioned to capitalise on the growth opportunities in the UK employee benefits and wealth management markets in the run up to and after the implementation of the Retail Distribution Review.
“The market changes in the UK resulting from the Retail Distribution Review will require us to move our DC solutions’ business towards a fee and asset-based model. Tony’s experience with our South African business will enable us to accelerate our transition, putting AFFS in a strong competitive position.”