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Apex Group set to launch in Namibia with new hire

01 November 2023

Apex Group Ltd. (“Apex Group” or “The Group”), a global financial services provider, today announces its expansion into the Namibian market with the appointment of Sybil Somaes as Country Head – Namibia, responsible for overseeing the delivery of Apex Group’s single-source solution to global clients.

Apex Group’s Namibia business supplements the Group’s existing presence in South Africa where it currently employs over 1,200 people across offices in Cape Town and Johanesburg, servicing 140 clients with assets of c. USD$130bn (ZAR 2.5trn). Apex Group’s continued organic growth is driven by increased demand from both new and existing clients for Apex Group’s locally delivered, single-source solution.

Apex Group in Namibia will be led by newly appointed Sybil Somaes, with plans to grow client service and delivery teams in this location through the creation of new job opportunities over time. Sybil Somaes brings over 13 years of experience in the Namibian financial services industry to her new role at Apex Group. She joins Apex Group from Compli-Serve (Namibia), a regulatory compliance joint venture with the Compli-Serve Group in South Africa, which she launched in 2020.

She previously served as the Chief Executive Officer of the Namibia Savings and Investment Association (“NaSIA”) and has held senior roles at PPS Insurance Namibia and Old Mutual Namibia. She has also served on several boards and industry body committees. She holds BCom and LLB degrees from Rhodes University in South Africa and is currently pursuing an Executive Master of Business Administration degree through the Henley Business School.

Apex Group’s Namibian clients - as well as international clients investing into Namibia – will benefit from the efficiency of a single-source solution, including access to a broad range of services including Digital Banking, Depositary, Fund Raising Services, and pioneering ESG Ratings and Advisory Solutions, offered globally and delivered locally.

Alan Keet, Regional Managing Director, MENA and Africa comments: “We are delighted to announce the expansion of our geographic footprint in Africa with the launch of our new operations in Namibia, where we see significant growth opportunities for our clients and for our business. Along with the experienced regional management team, Sybil will be focused on ensuring that we leverage Apex Group’s global technology-enabled solutions, while also addressing the unique needs of the Namibian market and our growing local client base.”

Sybil Somaes, Country Head – Namibia adds: “As a long-time advocate for the growth of the financial services industry in Namibia, I am excited about Apex Group’s plans, as an global financial services provider, to build a strong local presence by establishing an office and through building local capacity to service clients in Namibia. Apex Group’s unique ability to reach globally, service locally and provide cross-jurisdictional services will ensure the delivery of world-class solutions to existing and new clients in Namibia.”


About Apex Group

Apex Group Ltd., established in Bermuda in 2003, is a global financial services provider. With over 97 offices worldwide and 12,000+ employees in 39 countries, Apex Group delivers an expansive range of services to asset managers, financial institutions, private clients and family offices. The Group has continually improved and evolved its capabilities to offer a single-source solution through establishing the broadest range of services in the industry; including fund services, digital onboarding and bank accounts, depositary, custody, super ManCo and fund raising services, corporate services including HR and Payroll and a pioneering ESG Ratings and Advisory solution. Apex Group’s purpose is to be more than just a financial services provider and is committed to driving positive change to address three core areas; the Environment and Climate Change, Women’s Empowerment and Economic Independence, Education and Social Mobility.

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