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View the article online at http://citywire.co.uk/wealth-manager/article/a493186

Rensburg Sheppards to rebrand as Investec Wealth and Investment

by Danielle Levy on May 20, 2011 at 07:00

Rensburg Sheppards to rebrand as Investec Wealth and Investment

Rensburg Sheppards is to be renamed Investec Wealth and Investment.

Citywire understands the Rensburg Sheppards name will be scrapped completely to focus on its South African parent company, Investec bank.

The move follows the full acquisition of Rensburg by Investec, the banking group that had owned a 47% stake in the wealth management business for several years.

A source close to the situation said the firm hoped the new name would serve to highlight the strength of Investec as a brand. Rensburg Sheppards has been amalgamated with the wealth management arm of Investec Private Bank, making it one of the largest wealth managers in the UK.

The investment process appears to have been preserved despite the merger of the two research teams. Three members of the Investec research team have since left the company due to overlaps, and the other four are reporting to Rensburg head of research John Haynes, who works closely with CIO Chris Hills.

The move will mean the iconic Rensburg name, linked to Henry Rensburg who founded the firm in 1873, will be consigned to history.

The full acquisition by Investec marks a new stage in the life of the private client investment manager and follows Rensburg’s acquisition of Carr Sheppards Crosthwaite in 2005, which at the time saw it merge with three of the oldest names on the London Stock Exchange.

At the end of last year, Jonathan Wragg (pictured) was appointed CEO of Rensburg Sheppards, and took over from Steve Elliot, who was promoted to a new role within Investec.

Rensburg Sheppards declined to comment.

4 comments so far. Why not have your say?

Victorian Assets

May 20, 2011 at 09:10

This is very sad news. The demise of a fine and venerable name (s) that no doubt presages the forcing of a homogenous culture on a once proud and independent culture amongst its offices. Big is beautiful for shareholders, certainly not for customers.

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Jobbing Convert

May 20, 2011 at 10:21

When will those foreigners learn that this approach just doesn't work for the type of middle Englander that comprises such a big part of the client base of (presumably) Rensburg Sheppards........presumably when staff and clients leave?

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Anonymous 1 needed this 'off the record'

May 20, 2011 at 10:42

What a shame another traditional name gets swallowed up !!!!

Only a matter of time, one would assume, before the clients see the tradition values go the same way !!!

Still atleast there are a few traditional firms out there that have not sold out ???

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Anonymous 2 needed this 'off the record'

May 20, 2011 at 12:38

unlike other firms, which I hear have fallen foul of more risk-driven than client-led changes to client 'service - the article does seem to give a more encouraging story ... and with Rensburgers holding their own in this domain too: ... para 5 does say as much if I read it right. Good luck to all and hope the combined resources work out for the best for clients and employees alike - as well as shareholders...

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