The new Mauritian-based Sanlam Trustees International business (previously Summit Trust Mauritius) “supports the broader business” by setting up trusts and companies and providing directorships, trusteeships, accounting and corporate services to high net worth individuals and entrepreneurs of African, and chiefly South African, origin.
However, the heart of SPW’s offer in Africa is a wide range of investment solutions including global funds, asset allocation services, cash management, collateralised credit, insurance, protection of assets and structured products.
In South Africa SPW derives 70% of its revenues from private client asset management.
At the end of 2016 SPW reported ZAR250 bn (£13.7bn $18.2) assets under advice and administration.
For Tremeer the sometimes difficult political environment has hit the headlines but in Kenya, for example, he sees a bright future off the back of 5.7% growth in GDP over the last seven years and a growing middle and high net worth client group.
