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 French fund CEOs: 'Brexit is a lose-lose situation for all of us'

French fund CEOs: 'Brexit is a lose-lose situation for all of us'

'We'll all lose out - but London is an international city, Paris is not.' Leading French asset management CEOs tell us what they think Brexit will mean for the investment business.

Play Henderson Eurotrust's Stevenson: dealing with European cynicism

Henderson Eurotrust's Stevenson: dealing with European cynicism

Tim Stevenson talks about where he finds his opportunities in the current environment in Europe

Play Mark Barnett - part 2: why I'm not buying Lloyds

Mark Barnett - part 2: why I'm not buying Lloyds

In the second part of our exclusive video interview, Barnett explains why he has no intention of buying Lloyds, and where he sees the greatest income opportunities.

Read More
Wealth Manager on Twitter