Dalrymple Holdings to acquire WTW SA's investments advisory business

Johannesburg - Dalrymple Holdings, led by financial services professionals Gontse Sekhitla and Tando Bikitsha, is to acquire WTW (Willis Towers Watson) South Africa's Investments Advisory business. Following the deal close, the business will operate as Catenate Advisory. The transaction is subject to customary regulatory approvals.

The acquisition involves the Investments advisory business within WTW South Africa, which provides actuarial and investment consulting services to institutional clients. The business has an established presence in the South African market and advises a range of pension funds and institutional investors.

Following completion of the transaction, the acquired business will operate as an independent advisory firm. Its existing senior management team will remain in place, ensuring continuity for clients and operations.

Sekhitla said the transaction reflects a decision to establish WTW South Africa's Investment Advisory business as an independent, South African-owned investment advisory firm focused on institutional clients. "The business has a strong foundation and a depth of intellectual capital. Operating independently allows us to focus on delivering clear, relevant and rigorous advice to clients," he said.

Catenate Advisory will provide investment consulting services while expanding its capabilities in selected growth areas, including infrastructure advisory, the use of technology and advanced analytics, and advisory services for additional client segments such as treasury functions and family offices.

Bikitsha said the focus would be on measured growth rather than structural change. "This transaction is not about changing the core of the advisory business, but about positioning the existing platform to respond to areas of increasing demand within the investment advisory market," he said.

Eleni Lykoudi, Head of Central and Eastern Europe, Middle East and Africa at WTW said, "The sale of WTW's Investments business in South Africa will provide our Investments colleagues with the best possible opportunity to do what they do best and take this business to the next level of growth within the South African market.

Ant Lester, Head of WTW's Investment business in South Africa, said, "We are delighted that Catenate is to acquire our business. We are confident that under the leadership of Gontse and Tando we will continue to act in the best interest of our clients, deliver a very high-quality service, and grow. We have much to look forward to."

The consideration for the transaction was not disclosed.