22seven founder Christo Davel has told subscribers that significant staff changes at the money management service are taking place.
Davel, co-founder Kenny Inggs, and other 22seven staff will no longer work for the service.
“Old Mutual has decided to bring 22seven strategically closer to home, in terms of their digital business,” said Davel.
“They have some extremely capable people working on their future digital plans, which means that I, Kenny Inggs, and some of our staff won’t be part of 22seven’s future.”
He said the service will keep the same aspects of its business.
- Technology – 22seven will keep the same partners and providers.
- Support – The Svens will still be there.
“Since Old Mutual bought 22seven almost four years ago, we have continued to run independently, with our own separate offices and staff,” said Davel.
“The support and independence they gave us enabled us do what we originally set out to – help people do better with their money.”