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Verso Group

History:

2000

Two of the largest Pension Funds in South Africa outsourced their in-house administration to former staff. Wanting to seek new clients on the basis of their sound reputation, the professional team which administered the funds took up the majority shareholding in a new enterprise. This was the start of an independent company with a clear focus on becoming the leading independent administrator of pension and retirement funds and provider of employee benefits consulting. The Company opens its head office in Bellville, Cape Town.

2004

The Company changed its name to Verso Financial Services (Pty) Ltd and the former staff bought out all shares held by minorities, giving them a 100% shareholding.

Verso recognised the need for members of retirement funds to have access to independent financial advice as one of the immediate challenges of the financial industry in South Africa. Verso Investment Services (Pty) Ltd was established as result.

Verso Multi Manager (Pty) Ltd, now confirmed to be one of the best-performing multi managers over the medium to long-term was established in the last quarter of 2004. Verso Multi Manager grew rapidly and soon became the home of thousands of clients who invested billions of their retirement savings with Verso Multi Manager.

Verso identified the need to establish a health benefits brokerage company with a team of independent specialists. Verso Health (Pty) Ltd was established as a result.

2006

The Verso Group of Companies opens a regional office in Port Elizabeth, Eastern Cape.

2009

Verso Money Brokers (Pty) Ltd was established in 2009 to improve the liquidity of the short term money market by acting as an intermediary between issuers and investors. Verso Money Brokers immediately made an impact and now boasts clients, the likes of South African universities, listed asset managers, The reserve bank, and two large para-statals in South Africa. Verso Money Brokers facilitated transactions in excess of R120 billion in its first two years of existence.

2010

Verso Financial Services (Pty) Ltd celebrates its ten year anniversary.

2011

The Verso Group of Companies opens a regional office in Midrand, Gauteng.

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Ascent Limited

Experience The Difference. Ascent Limited provides first class wealth management and family office services. Our private banking team, assembled from a group of highly experienced banking professionals, will provide financial advice tailored to your individual requirements and keep your portfolio in tune with the latest market developments and opportunities.

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