Specialised international bank and wealth manager Investec has announced a new growth strategy for its private client franchise, with South Africa positioned as the main driver of expansion and earnings growth through to 2030.
The group said it will deliver its private client ambitions through an advice-led, high-touch service model that combines private banking and wealth management capabilities.
Under its One Investec model, the business integrates banking and wealth services across geographies to provide a more consistent global client experience.
The strategy aims to deepen relationships and link lending, banking, and wealth solutions more closely.
In South Africa, the private banking franchise already serves a base of 128 000 clients, and the group aims to expand this by a further 122 000 clients and generate an additional R3-billion in operating profit by March 2030.
Deepening existing strengths
Itumeleng Merafe, Investec head of private banking in South Africa, said the country’s strategy is focused on both deepening existing strengths and expanding into the affluent market.
“Our growth strategy is focused on two key areas. Firstly, we continue to invest in the parts of the business where we already have a strong market position, ensuring we consistently deliver the best value proposition to clients,” said Merafe.
“Secondly, we are accelerating our presence in the affluent market through differentiated offerings such as My Investments and Investec Life.
“Together, these solutions expand the ways clients can enter the Investec ecosystem, creating a more integrated and seamless experience.
“This strengthens long-term client value while also diversifying our earnings base and increasing capital-light revenues.”
In the UK, the same strategy is being applied from a smaller base, with plans to grow private banking clients by about 5 000 and add £25-million (R556-million) in operating profit.
Across its wealth business, Investec Wealth & Investment International, which serves 27 000 annuity clients, is expected to deliver earnings growth of 16% to 17% by the financial year 2030.
The group said this reflects growing integration between banking and wealth platforms.
In South Africa, Investec is also focusing on strengthening its affluent client offering through products such as My Investments and Investec Life, developed in partnership with its wealth management business.
The aim is to widen access to the Investec ecosystem and increase capital-light revenue streams.
Rooted in client service
Fani Titi, Investec Group chief executive, said the private client franchise remains central to the group’s strategy.
“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,” said Titi.
Rathbones, following its partnership with Investec Wealth & Investment UK, is moving towards a more integrated model in which Investec leads client relationships and advice, supported by investment capabilities from both Rathbones and Investec Wealth & Investment International.
Joubert Hay, chief executive of Investec Wealth & Investment International, said the business is well positioned for long-term growth as it shows steady financial growth supported by client inflows and disciplined active management.
“With a clear line of sight to our FY2030 ambitions, deeper integration with private banking and continued digital enablement will further enhance earnings quality and client value.
“Built on a 20-year track record, our specialist investment capability and experienced team, global custody and technology platform, alongside our values-led approach to holistic wealth management, position us to deliver sustained outperformance,” said Hay.
- Investec’s new growth strategy prioritizes South Africa as the key driver for private client expansion and earnings growth through 2030, aiming to add 122,000 clients and R3 billion in operating profit.
- The approach features an advice-led, high-touch model integrating private banking and wealth management across geographies under the One Investec model for a consistent global client experience.
- In South Africa, Investec focuses on deepening market strengths and expanding into the affluent segment with products like My Investments and Investec Life to diversify earnings and increase capital-light revenues.
- The UK private banking franchise plans to grow clients by about 5,000 and add £25 million (R556 million) in operating profit, while the wealth business targets 16-17% earnings growth by 2030 through better integration.
- Investec emphasizes client service, integrated advice, and digital enablement supported by strong human relationships and partnerships (e.g., with Rathbones) to sustain long-term wealth management growth and value.
Specialised international bank and wealth manager Investec has announced a new growth strategy for its private client franchise, with
In
“Our growth strategy is focused on two key areas. Firstly, we continue to invest in the parts of the business where we already have a strong market position, ensuring we consistently deliver the best value proposition to clients," said Merafe.
"
“
"
In the UK, the same strategy is being applied from a smaller base, with plans to grow private banking clients by about 5 000 and add £25-million (R556-million) in operating profit.
Across its wealth business, Investec
In
Fani Titi, Investec Group chief executive, said the private client franchise remains central to the group's strategy.
“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,” said Titi.
Joubert Hay, chief executive of Investec
“
“Built on a 20-year track record, our specialist investment capability and experienced team, global custody and technology platform, alongside our values-led approach to holistic wealth management, position us to deliver sustained outperformance,” said Hay.
