Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

Investec Wealth still on recruitment hunt as profit jumps 35%

Investec Wealth still on recruitment hunt as profit jumps 35%

Investec Wealth & Investment recruiting spree is set to continue after a strong first half.

In the six months to 30 September profit at the division increased by 35% from £22.9 million to £30.8 million. 

The business, headed by Jonathan Wragg (pictured) benefitted from higher levels of average funds under management and improved operating margins. Net inflows stood at £400 million with assets under management rising from £40 billion at the end of March to £40.4 billion.

Investec Wealth has undergone a rapid expansion over the last two years and increased its UK footprint over the last six months by successfully completing the integration of Williams de Broë business.

This expansion has extended into the fourth quarter as it hired nine individuals from Deutsche and Barclays to bolster its Edinburgh and Glasgow teams.

In a statement accompanying the results, its South African parent Investec suggested the firm is still firmly on the hunt for new talent.

'Further investment in distribution platforms, IT and online infrastructure and experienced portfolio managers is important for supporting future revenue growth' in the business the firm said.  

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Picton: the UK property hotspots for rental income

Picton: the UK property hotspots for rental income

Picton Property Income CEO Michael Morris reveals how he is planning to ride the ‘ripple effect’ as UK economic growth spills out from the capital across the country.

Brewin's Foster talks financial crisis MkII with Allianz's Riddell

Brewin's Foster talks financial crisis MkII with Allianz's Riddell

This week Brewin Dolphin's head of research talks to Mike Riddell, fund manager at Allianz Global Investors, about the forces driving bonds markets in a tumultuous week for markets.

Play Henderson's Hermon: how to be defensive in smaller caps

Henderson's Hermon: how to be defensive in smaller caps

Hermon, who manages the Henderson Smaller Companies trust, talks about he will tackle a 'challenging' 2016.

Your Business: Cover Star Club

Profile: 'what we are doing at Mosaic is Darwinian'

Profile: 'what we are doing at Mosaic is Darwinian'

The changes in financial services over the last few years may leave some destitute warns Marco Sambucci of Mosaic Money Management

Wealth Manager on Twitter