Business
Investec W&I UK's combination with Rathbones
Investec W&I UK's combination with Rathbones.
About this update from Investec Plc
[{"type":"text","content":"\n \n \n \n \n \n \n INVESTEC PLC\n \n \n (Incorporated in the England and Wales)\n \n \n (Registration number 3633621)\n \n \n LSE share code: INVP\n \n \n JSE share code: INP\n \n \n ISIN: GB00B17BBQ50\n \n \n LEI:2138007Z3U5GWDN3MY22\n \n \n \n \n INVESTEC LIMITED\n \n \n (Incorporated in the Republic of South Africa)\n \n \n (Registration number 1925/003833/06)\n \n \n JSE share code: INL\n \n \n JSE hybrid code: INPR\n \n \n JSE debt code: INLV\n \n \n NSX Share code: IVD\n \n \n BSE share code: INVESTEC\n \n \n ISIN: ZAE000081949\n \n \n LEI:213800CU7SM6O4UWOZ70\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION (IN WHOLE OR IN PART), DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION\n \n \n \n \n \n \n \n \n \n THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION\n \n \n \n \n \n \n \n \n \n FOR IMMEDIATE RELEASE\n \n \n \n \n \n \n \n \n 4 April 2023\n \n \n \n \n \n \n \n \n \n \n \n \n \n Investec Group announces combination of Investec Wealth & Investment UK and Rathbones Group to create the UK's leading discretionary wealth manager\n \n \n \n \n \n \n \n \n \n \n \n \n \n The Boards and Management of Investec plc (\"Investec Group\") and Rathbones Group Plc (\"Rathbones\") are pleased to announce that they have entered into a definitive agreement regarding an all-share combination of Investec Wealth & Investment Limited (\"Investec W&I UK\") and Rathbones to create the UK's leading discretionary wealth manager (the \"Enlarged Rathbones Group\") (the \"Combination\").\n \n \n The Combination brings together two trusted and prestigious UK wealth management businesses with closely aligned cultures and operating models. The Enlarged Rathbones Group will create the UK's leading discretionary wealth manager with approximately £100 billion in funds under management and administration (\"FUMA\"), delivering the scale that will underpin future growth. The Combination establishes a long-term, strategic partnership between the Enlarged Rathbones Group and Investec Group, which will enhance the client proposition across banking and wealth management services for both groups. The Combination represents a significant va...