Investec targets underperformers as earnings fall
Joint CEO Titi targets more cost-savings with the closure of smaller businesses to stem decline
21 November 2019 - 10:57
Investec co-CEO Fani Titi announced the closure of several smaller businesses at the group’s interim results presentation on Thursday as the specialist banking group and asset manager saw earnings decline for the six months ended September.
“One of the key things we have done is to look at subscale businesses, and to either sell, close or restructure those, that is the first big thing we are doing,” says Titi in reference to smaller businesses in the portfolio that are finding it challenging to compete and generate adequate returns on investment...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.