Investec has confirmed it will to drop the historic Williams de Broë brand following its acquisition of the wealth manager.
A spokesperson for the company said the business would take on the Investec Wealth & Investment brand. Sources close to the situation say the rebrand could take place during the autumn of this year, meaning the name could be consigned to the history books within six months.
The move follows in the footsteps of Investec’s decision to rebrand Rensburg Sheppards after its takeover of the firm in 2010.
Wealth Manager understands that Investec is anticipating that the integration could take up to 12 months, with plans afoot to bring the two Edinburgh offices together in one location.
Question marks remain, though, over the exact shape of the integration of the two investment processes. Following Investec’s takeover of Williams de Broë’s parent Evolution, Alex Snow has been appointed executive chairman of Investec’s investment banking division.
At the same time, Philip Howell has remained as Williams de Broë’s chief executive and has joined Investec Wealth & Investment’s board. Likewise Investec Wealth & Investment chief Jonathan Wragg has joined Williams de Broë’s board.
The move will spell an end for the iconic Williams de Broë brand, which was founded in 1869 by Baron Emile d’Eichthal. Gerald Williams then entered the partnership in 1883, followed by Conrad de Broë in 1889, resulting in the formation of the current name.
The firm has been taken over various times since its formation in the 19th century, including by Banque Bruxelles Lambert, which acquired an 80% holding in the mid-1980s, ING Group in 1998, and more recently Evolution Group in 2006.
Evolution then amalgamated Williams de Broë with its existing wealth management subsidiary Christows, subsequently having also acquired the business of Singer & Friedlander Investment Management from the administrators of the Icelandic bank Kaupthing.
In October of last year Williams de Broë acquired BNP Paribas Private Investment Management.