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News - Alexander Forbes' CEO resigns as sell-off talks start.
(From Reinsurance)
Broker Alexander Forbes' group chief executive officer (CEO), Rael Gordon, has resigned and the firm is in discussions with potential private equity buyers, with options for its International Risk Services business that may see it spun off in a management buyout.
Mr Gordon will be replaced by Peter Moyo from the start of July 2006. Mr Moyo joined the company at the end of 2005, and will be based in Johannesburg in his new role.
Mr Gordon, who has been group chief executive since 2003, will stay with the broker until March 2007, "primarily focusing on Alexander Forbes's international interests, and with a specific mandate to progress the initiatives ... with respect to IRS," the broker revealed in a statement to the South African stock exchange. The broker continued: "With ...
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