Stephen Koseff. Picture: BUSINESS DAY
Stephen Koseff. Picture: BUSINESS DAY

The proposed demerger and separate listing of Investec Asset Management (IAM) from the wider group could propel the business into the "super league" and in so doing unlock substantial value for shareholders, said outgoing Investec CEO Stephen Koseff, who described Friday’s announcement as being akin to "watching my daughter leave home".

The announcement sent the share price of the banking group surging to its biggest intraday move in more than 10 years. After jumping as high as 13%, Investec closed 9.36% higher at R103.30.

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