1ST December 2008
Eikos Group Announcement
The Eikos Group, comprising Eikos Risk Applications (Pty) Ltd, Eikos Risk Capital Ltd, Group Risk Management Services (Pty) Ltd and RAS Administration Services (Pty) Ltd, has enjoyed considerable growth since its 1999 inception and particularly during the past two years. As a result the Group has engaged in a strategic evaluation and restructuring process to meet the demands of its increasing client base as well as the challenges facing business in the current economic environment.
The Group has been restructured to create business units with particular focus areas, thus concentrating on different facets of the risk management delivery process. Reflecting a growth in non-broking activities we are proud to announce the incorporation of another new company within the Eikos Group stable - Neptune Risk (Pty) Ltd. Neptune is a specialist company, which will focus on portfolio administration
This strategic restructuring has resulted in the realignment of various managerial responsibilities and Board appointments:
Victor Vaz, formerly Managing Director of Eikos Risk Applications (Pty) Ltd, will assume a position on the Eikos Holdings Board to extend access to his strategic capacity across all group companies. This responsibility will also extend to various offshore opportunities, joining Eikos Risk Capital (UK) Ltd board.
Hugh Reimers will assume the role and responsibility of Managing Director of Eikos Risk Applications (Pty) Ltd.
Gail Fry is appointed as the deputy MD of Eikos Risk Applications to support Hugh Reimers.
Hemraj Sewbalas heads up Neptune Risk (Pty) Ltd., as Managing Director.
Sean Pyott, in addition to the position of Financial Director of the Group, and Chief Operating Officer also heads up the newly established Eikos Group Services arm.
Louis Ferreira continues in his capacity on the boards of Group Risk Management Services (Pty) Ltd and Eikos Holdings (Pty) Ltd.
The shareholders and management of the group are confident that these appointments will ensure that Eikos has the best team available to achieve the next stage of consolidation and new growth.
Dr Anthony Valsamakis Group Executive Chairman congratulates the new appointees and wishes them well in their new positions – “I am absolutely confident that this new structure and focus will serve our Group well and will launch us into our next exciting developmental phase.”
The management team of the Eikos Group would like to take this opportunity to thank all of our clients for their support over the past nine and a half years and to assure clients and prospective clients of the continued focus on providing an excellent and innovative answer to their risk related needs.