Investec targets HNW banking clients in updated growth strategy

Investec Group has announced an updated growth strategy focused on its Private Client franchise, aiming to scale it up with an advice-led proposition though its private banking and wealth capabilities.

The firm said the proposition would be enabled by digital capabilities and a globally integrated ‘One Investec’ ecosystem.

In the UK, Investec is aiming to transition from a specialist lender to a full-service primary bank for high net worth (HNW) clients, supported by an investment of around £30m.

Its updated UK offering will include a wider range of banking services, supported by digital capabilities, a global 24/7 service model, and access to the wider One Investec ecosystem.

Investec said this integrated approach was designed to deepen client relationships and drive long-term growth.

The firm is aiming to double its private client base to 16,000, increase its market share to around 13 per cent, grow its loan book to £9bn, and deliver operating profit CAGR of approximately 15 per cent by the 2030 financial year.

Its UK private bank will launch an updated transactional banking platform, underpinned by an advisory-led client relationship model and digitally enabled lending offering.

Meanwhile, its Wealth & Investment International arm will look to expand through scaling in international growth jurisdictions, supported by strategic acquisitions and partnerships, and enhanced offerings.

Almost three years on from the combination of Investec Wealth & Investment UK and Rathbones, the partnership is moving from a referral-based model to an integrated assets-under-advice model.

Investec will lead client relationship and advice, while Rathbones will provide underlying investment capabilities, alongside Investec Wealth & Investment International.

“The Private Client franchise sits at the heart of Investec,” commented Investec group chief executive, Fani Titi.

“Our origins are rooted in client service and enabling our clients to achieve more. As client needs become increasingly complex, our focus remains on delivering integrated, advice-led and digitally enabled solutions, underpinned by strong human relationships and trust.

“At the core of this is our distinctive ‘One Investec’ approach, which brings banking and wealth together into a seamless, client-centred experience, enabling us to meet clients’ needs holistically and create greater value.”

Investec head of private banking UK, Ryan Tholet, added: “The UK HNW market presents a compelling growth opportunity. By broadening our proposition, deepening client relationships and leveraging the strength of the wider Investec ecosystem, we are well positioned to deliver a more integrated banking and wealth proposition.

“With Investec leading the client relationship and advice, supported by both Rathbones and Investec Wealth & Investment International’s investment capabilities, we can provide holistic advice and a seamless client experience, creating greater value for clients and stronger returns for shareholders.”

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