Pointbreak to Ashburton conversion completed with official launch
Chief Executive Josephat Mwatotele (centre) of the newly launched Ashburton Investments, Chief Executive of FNB Namibia Holdings, Sarel van Zyl (left) and Chief Executive of Ashburton globally, Boshoff Grobler, at Wednesday’s auspicious occassion where Ashburton officially entered the Namibian investment management scene.
Ashburton Investments is the investment management division of the FirstRand Group of South Africa. In Namibia, Ashburton resorts under the parent of First National Bank, FNB Namibia Holdings. The Namibian Ashburton is a conversion of the former Pointbreak which was acquired by FNB Holdings earlier this year. Mwatotele was the Managing Director of Pointbreak until the take-over, following in the shoes of First Lady Monica Geingos, the previous MD after her official duties precluded her from running the company.
At Wednesday’s launch Mwatotele expressed his excitement about heading the new addition to the FNB Namibia stable: “The introduction of Ashburton Investments in the Namibian market allows us to offer our local clients access to broader investment product options, and a greater reach through extensive distribution network of the Group. We are also able to localise decision-making with our specialist technical skills base, and have a larger resource base to call on in terms of research, product development and capital to drive new product innovation.”
“We are also excited about the new generation asset managers driven by product innovation, quality research and highly skilled technical teams, with a particular focus on alternative assets and our thorough understanding and deep insights of the local environment in which we operate to cater to our clients’ unique requirements. We seek to remain locally relevant with an international outlook to offer only the best products, services, and solutions to our clients” he stated.
On his part, FNB Holdings CEO van Zyl said the launch of Ashburton Investments is the fusion of a vision between Ashburton, the FNB Group, and Pointbreak – “an exciting and historic occasion and a move which we believe is to the advantage not only of existing Pointbreak investors, but also all new future clients of Ashburton, who will now receive access to the wider range of investment products and financial services offered by our Group.”
“The acquisition of the Pointbreak group enriched the newly formed Ashburton Investments in Namibia with local skills and expertise. Together with Pointbreak Wealth Management, we are now the most comprehensive financial services solutions group in Namibia” said van Zyl.
“I wish to congratulate Josephat on his appointment as the CEO of Ashburton Investments Namibia and have already welcomed him onto our FNB Namibia Holdings Exco, where the Ashburton Investments brand has taken its first steps to standing tall alongside the groups’ various offerings. We look forward to Ash burton’s contribution to the Namibian market and the group in general” concluded van Zyl.