Investec is an international banking and wealth management group founded in Johannesburg, South Africa, in 1974.
Over nearly five decades, Investec has grown organically and through strategic acquisitions into a publicly traded company listed on both the London and Johannesburg Stock Exchanges. The bank employs over 7,400 staff across more than 40 cities on five continents, with core operations in the UK and South Africa.
If you are looking to invest as an expat or high-net-worth individual, which is what I specialize in, you can email me ([email protected]) or WhatsApp (+44-7393-450-837).
This page will explore Investec history, financial performance, key executives, and contact details.
What is Investec?
Investec was formed by Larry Nestadt, Errol Grolman, and Ian Kantor as a leasing and financing company.
In 1980, the firm obtained a banking license, enabling it to expand its financial service offerings.
By 1986, the company had merged with Metboard, a trust company, and subsequently listed on the Johannesburg Stock Exchange. In 1988, the company restructured into Investec Group Limited, granting management and staff control, which facilitated its expansion strategy.
The firm entered the UK market in 1992 with the acquisition of London-based Allied Trust Bank Limited, marking its first international acquisition.
Investec strengthened its UK presence in 1998 by acquiring Guinness Mahon and Hambros plc, two prominent merchant banks in London.
In 2002, it implemented a dual-listed company structure, securing listings on both the London and Johannesburg Stock Exchanges to enhance its global reach.
In 2020, it demerged its wealth management business, which was separately listed as Ninety One, allowing the company to focus on its core banking and wealth management services.
In 2023, Investec also agreed to sell its UK wealth and investment businesses to Rathbones.
Investec performance
As of 2024, Investec reported strong financial metrics, with an adjusted operating profit of £884.5 million and adjusted earnings per share of 78.1 pence. The firm achieved a cost-to-income ratio of 53.8% and a credit loss ratio of 28 basis points, while return on equity stands at 14.6%, and the net asset value per share is 563.9 pence, indicating solid shareholder returns and financial stability.
Globally, the bank has a top-tier AAA MSCI rating, placing it in the top 2% of its peer group. It also prioritizes diversity, with 58% female representation and 42% persons of color on its board.
Investec Board of Directors and Leadership
- Philip Hourquebie – Chair: Appointed to the Board in August 2017 and as Chair in August 2021, Philip brings substantial international and advisory experience from his long career at Ernst & Young, where he held positions including Managing Partner for sub-Saharan Africa and later, Central and South East Europe.
- Zarina Bassa – Senior Independent Director: Serving on the Board since November 2014 and as Senior Independent Director since April 2018, Zarina’s background includes roles as a partner at Ernst & Young, Executive Director of Absa Bank, and Chair of the South African Public Accountants’ and Auditors’ Board.
- Fani Titi – Group Chief Executive Officer: Fani has been with Investec since 2004, serving as Joint CEO from October 2018 and becoming sole Group CEO in March 2020. His leadership focuses on growing Investec’s core businesses and delivering optimal outcomes for clients and stakeholders. Prior to Investec, Fani co-founded the Tiso Group and has over two decades of investment banking experience.
- Nishlan Samujh – Group Finance Director: Joining the firm in 2000, Nishlan has held various roles, including Global Head of Finance, before being appointed Finance Director in April 2019. His career began at KPMG, followed by a stint at Sasol Chemical Industries, bringing a strong foundation in financial management to his current role.
- Henrietta Baldock – Independent Non-Executive Director: Henrietta has over 25 years of experience in investment banking, notably as Chair of the European Financial Institutions team at Bank of America Merrill Lynch.
- Stephen Koseff – Non-Executive Director: A veteran of Investec with 39 years of service, Stephen brings profound commercial, finance, risk, and industry expertise to the Board.
- Nicky Newton-King – Independent Non-Executive Director: Nicky is a lawyer by training and served as CEO of the Johannesburg Stock Exchange from 2012 to 2019.
Investec Contact Information
Investec has both offices in Africa and the United Kingdom.
- SA: +27 (11) 286 7000
- UK: +44 (0)20 7597 4000
Pained by financial indecision?
Adam is an internationally recognised author on financial matters with over 830million answer views on Quora, a widely sold book on Amazon, and a contributor on Forbes.
