Sygnia's Magda Wierzycka to return as CEO

Source: Supplied. Magda Wierzycka, Synia's chief executive officer.

"Sygnia is my baby. And I love SA and I want to contribute. So, I felt it is the right decision at this time," she said.

Hufton, who is pursuing a career break, will continue in his role as outgoing chief executive officer until 30 April.

He has served in his current role for more than 30 years.

Wierzycka is the co-founder of Sygnia and previously served as its chief executive officer from inception in November 2006.

From April 2020, she shared the role of chief executive officer with Hufton.

A media release states the various strategic initiatives and operational responsibilities of the company had been clearly assigned between the joint chief executive officers and between the company’s two main centres of operation in South Africa and the United Kingdom.

Magda Wierzycka to return as Sygnia CEO https://t.co/cGs1FTadz1 via @BusinessLiveSA

— Smalltalkdaily Research (@smalltalkdaily) February 6, 2023

Wierzycka stepped down as chief executive officer with effect from 31 May, 2021.

A week after Hufton took over as sole chief executive officer in June 2021, Wierzycka took a position as executive chair.

The journey to the top

Wierzycka started her career as a product development and investments actuary at Southern Life in 1993 and then worked as an investment consultant for two years at Alexander Forbes. In 1997, she joined Coronation Fund Managers as a director and as its head of institutional business.

She left Coronation in 2003 to start IQvest, a fund of hedge funds management company. Later that year, after selling IQvest to the African Harvest group, she was appointed to the position of chief executive officer of African Harvest.

After negotiating the sale of African Harvest Fund Managers to Cadiz Financial Services in 2006, she led the management buy-out of the remainder of the African Harvest group, which resulted in the formation of Sygnia.