Investec Ltd (OTCPK:ITCFY)

$ 13.5 0 (0%) Market Cap: 6.04 Bil Enterprise Value: 5.81 Bil PE Ratio: 20.69 PB Ratio: 2.32 GF Score: 64/100

Investec PLC to Discuss Combination of Investec Wealth & Investment UK and Rathbones Group PLC Call Transcript

Apr 04, 2023 / 09:30AM GMT

Release Date Price: $11.7

Transcript

Fani Titi

Investec Group - Group CEO & Executive Director

Good morning, ladies and gentlemen, and welcome to this webcast. We appreciate that you could attend this call at such a short notice on what has been a pretty busy week. We're quite delighted to have announced this morning that we have reached agreement with response to combine their business with our wealth and investment business in the U.K. to form the leading discretionary wealth manager in the U.K. with 100 billion Pound Sterling assets under management and administration. It really is a good day for Investec, and we are delighted to be able to share the key aspect of the transaction that is announced.

Just to give you some background, you will know that over time, we have grown our business in the U.K. through some combinations and through some acquisitions. Just to remind you, in 2005, we had a combination of cash airports crossway with Rensburg to form Rensburg Sheppards that is a particularly successful combination for our business.

In 2011, we acquired Williams de Broe. Again, we were able to integrate that

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