Sanlam Life of South Africa is withdrawing from Cambium Capital, a high net worth joint venture with Citadel, a fund manager, that was launc...

Sanlam Life of South Africa is withdrawing from Cambium Capital, a high net worth joint venture with Citadel, a fund manager, that was launched in January 2005. Cambium was to use Citadel's investment and service model to offer objective wealth preservation products and services to high net worth clients. Sanlam's distribution network was to be used as a key access point. Existing Cambium clients will be absorbed back into Citadel over time and will not experience any cost implications or service disruptions, according to both companies. Low new business volumes through the joint venture were cited as the reason for Sanlam selling its shares in Cambium back to Citadel.