PSG Financial Services has announced a board leadership change, with founder and non-executive chairperson Willem Theron retiring at the company’s annual general meeting in July 2026, and independent non-executive director Lizé Lambrechts (pictured) nominated to succeed him as chairperson, subject to regulatory approval.
Theron founded the business in 1998 as part of the broader PSG Group and was instrumental in shaping one of South Africa’s leading advice-led financial services platforms. Originally incorporated as PSG Konsult, the group rebranded to PSG Financial Services in August 2023 to better reflect its full offering across wealth management, asset management, and insurance.
Today, the group operates a national network of advisory offices across South Africa, with a presence in Namibia. In its latest interim results, released in October 2025, PSG Financial Services reported a 19% increase in total assets under management to R518 billion.
Chief executive Francois Gouws credited Theron with helping to define the modern advice-led financial services model in South Africa.
“The PSG model ensures advisers are supported with technology, governance, and the capability to focus on delivering a sustainable client-centric approach. Willem’s contribution leaves a lasting impact on how advice businesses are structured across the industry,” he said.
Theron stepped down as CEO in 2013 but remained closely involved with the business as non-executive chairperson. Gouws said his long-standing commitment to the group’s founding principles would endure beyond his retirement.
“His unwavering commitment to the group’s values will leave a lasting legacy,” he said.
Lambrechts, who joined the board in July 2023, brings extensive experience to her new role. A qualified actuary, she holds a BSc Hons (cum laude) in applied mathematics from the University of Stellenbosch. She has held senior executive positions at the Sanlam Group, including 12 years as chief executive of Sanlam Personal Finance and seven years as chief executive of Santam. She has also served as chairperson of the South African Insurance Association and the Life Offices Association.
“I’m honoured to be nominated to assume the role, and I look forward to working closely with my fellow directors and the executive team to continue to support governance, strategic focus and long-term value creation,” Lambrechts said. “Having served on the board for the last two years, I have a deep appreciation for the values of PSG and will strive to ensure continuity as the business navigates its next phase.”
Gouws said the board was confident in the proposed transition.
“As we look ahead, we are pleased to have Lizé step into the role. Her depth of experience and strategic insight will be invaluable as we enter our next phase of growth and continue to deliver value to our clients, shareholders and the broader South African economy.”
