Investec gets into its stride
Investec’s clean-up looks almost complete. And despite a mammoth share run, the bank’s still seen as a good buy
Investec may finally be close to becoming the bank which CEO Fani Titi wants it to be, after his nearly three years in the job.
The bank has now exited completely from Australia, where it sold its bank book for A$1bn. It sold its Australia Property Fund to a local business, Irongate. It offloaded a prime broking business and disposed of a private equity portfolio based in Hong Kong. And in the UK it exited its once-lucrative, but more recently painfully loss-making, structured product business...