Alexforbes Investments CEO Ann Leepile has resigned, the financial services group informed its clients on Tuesday.
The letter, which Business Day has seen, indicates that Leepile’s notice period commences in November, and that group CEO Dawie de Villiers will act in the role until her replacement is found.
“Dawie has previously served as CEO of the business, and his deep understanding of our operations, people, and long-term vision makes him well-suited to guide us during this transition. His priority is to ensure business continuity and superior client service. A permanent appointment will be announced once the recruitment process is completed,” the letter reads.
The notification does not go into detail on the reasons behind Leepile’s sudden departure, having taken office just more than two years ago.
“Ann has decided to pursue interests that align with her long-term ambitions. Her energy, technical expertise, understanding of markets, and championing of transformation in the asset management sector have made a positive impact on clients, our people, and the broader market.”
Alexforbes Investments is entrusted with more than R400bn of clients’ savings. Before taking over as CEO in February 2023, Leepile held the role of head of global manager research and later deputy chief investment officer at the company.
The group’s note to clients said it had beefed up Alexforbes Investments’ team, with the appointment of Msizi Msomi as portfolio manager and Olwethu Mabumbulu as senior investment analyst.
“Our focus remains on being the preferred investment destination for our clients. We are committed to understanding and meeting your unique needs, providing exceptional value and performance, and fostering long-term growth and sustainability,” the note reads.
“This commitment ensures that even during times of transition, we continue to deliver the high standards of service and results that you expect from us.”
Leepile’s resignation is the second high-profile resignation in the asset management industry in two months. In September Khaya Gobodo resigned as MD of Old Mutual Investments. He will relinquish the role at the end of March.
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