The London-headquartered division of South Africa's financial services group Sanlam said the new brand represents its parent company's global presence, as well as the growth of the UK business.

“By adopting the same name as our parent company in South Africa, we are marking the evolution of our own UK-centric business to one that can bring a much wider range of resources to bear for our clients, from investment research to advisory and discretionary stockbroking,” said Sanlam Private Wealth's chief executive, Craig Massey, in a statement.

“Our new name symbolises the final ‘hurdle’ in our evolution and we are looking forward to a successful future as Sanlam Private Wealth.” 

The rebrand also involves an updated logo and a deepening of the research base available to portfolio managers.

The UK wealth manager said late last year that it would be focusing on strengthening its business following the departure of its senior discretionary fund manager, Paul Surguy. The Sanlam group, originally an African life insurance company, currently manages $50 billion in assets worldwide.