Darkest before dawn, says Investec on SA
Group positioning its investment banking unit for increase in deals once the rates cycle turns and sentiment improves
In the eyes of the public, Investec’s investment banking unit tends to fly under the radar with most still associating the lender’s zebra-logo with niche private banking and wealth management.
However, a quick glance at Investec’s results for the year to end-March shows the combined corporate and investment banking unit accounted for 57% of the group’s £835.93m operating profit with Southern Africa contributing only marginally more than the UK (£244.14m vs £233.24m). The significance of investment banking to the broader group is likely to grow further after the early June announcement that Investec Bank Plc, the group’s UK arm, acquired a majority stake in Capitalmind, one of Europe’s leading M&A and corporate finance advisories. ..
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