The company said a strategic review of VAM has resulted in a decision to focus all of its resources on “strengthening and expanding the markets of VAM Funds and Matco” – its Mauritius based administration and trust company.
VAM said this decision has led it to sell VFS International to Thomas Wright, currently managing director of VFS International in Kenya.
Founded in 1995, VAM said VFS International has grown to become the largest independent brokerage in Africa, operating in 11 countries, with around 70 brokers and a client base of over 10,000.
As a result of the change of ownership, Andre Le Roux has been appointed as director of all the group’s companies in Mauritius, including Matco. La Roux has also been appointed group managing director for the VAM Group in Mauritius, reporting directly to Peter de Putron, chairman and founder of the VAM Group of companies.
VAM Funds (Lux) and VAM Marketing will remain under the chairmanship of de Putron with Michael Hunt as managing director.
“The VAM Group will retain a close relationship with VFS as Matco will continue to perform all administration, accounting, compliance and marketing functions on behalf of VFS. In addition, both VAM Funds and Matco will remain major suppliers to VFS,” said de Putron.
