Wealth Manager - the site for professional investment managers

Register to get unlimited access to all of 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 Hendersons' Kerley: investing in Marmite-like China

Hendersons' Kerley: investing in Marmite-like China

Citywire A-rated manager sees higher quality growth originating from China's current reforms.

Play Oil slump opportunities, Japanese recession & a UK bank conundrum

Oil slump opportunities, Japanese recession & a UK bank conundrum

Investment Pulse this week looks at further challenges for the British banking sector, Japan's return to recession and the continuing weakness of brent crude.

Play JPMAM's Georgina Brittain: the best opportunities in mid caps

JPMAM's Georgina Brittain: the best opportunities in mid caps

Brittain discusses where she sees opportunities in mid caps despite rising valuations.

Your Business: Cover Star Club

Profile: The opportunity set that attracted Brett Williams to wealth management

Profile: The opportunity set that attracted Brett Williams to wealth management

Brett Williams is best known for helping to build some of the biggest platforms in the IFA market.He made the move over to wealth management to head SEI’s UK business earlier this year in the belief that this is where the best opportunities now lie.

Wealth Manager on Twitter