Sygnia bosses in conflict of interest query

JOHANNESBURG – JSE-listed asset management company Sygnia’s directors may be caught up in a perceived conflict of interest after chief executive Magda Wierzycka and non-executive director Andre Crawford-Brunt set up a competing registered business in the UK.

Wierzycka and Crawford-Brunt are the two directors of Braavos Investment Advisers, a company incorporated on October 16 last year with the registered office in London, UK.

A conflict of interest describes a situation where two or more interests are legitimately present and competing or conflicting.

At the time Braavos was incorporated Wierzycka was, and still is, the chief executive of Sygnia and, according to a Sygnia investor who preferred to remain anonymous, they might have had board approval “and this should have been announced”. 

No announcement was made in this regard.