Investec has completed the heavy lifting associated with its desire to refocus and simplify the group after news on Tuesday that it would be closing its Australian unit.
The decision is one of many the group has taken in the past 18 months with a view to improving profitability and boosting return on equity — which more than halved in the six months to the end of September — as a stand-alone bank and wealth manager after its asset management business was successfully hived off earlier in 2020...
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