Investec Group has taken the strategic decision to exit Australia.
The Group has done this so it can focus on building scale and relevance in its core markets of the UK and South Africa. This is in line with its stated strategy to clarify, simplify, and focus the business.
This decision was not taken lightly and is not a reflection on the performance of the Australian business, or its employees, which have performed strongly, especially over the last 5 years. The decision to leave Australia reflects a shift in the Group’s broader strategy.
Investec Australia now intends to fully transition the loan book, associated derivative positions, and its investment portfolio to the UK with clients continuing to be supported by the Investec global team. This transition should have no impact on clients and their deals.
Investec is also in advanced discussions to externalise a number of businesses other than Corporate Advisory where it has reached agreement to spin it out. Under the new model, Investec Corporate Advisory will run as an independent advisory firm, owned by the senior leadership team. The successor entity will be launched after a transition period in the New Year and will continue as an affiliate within Investec’s international network of Investment Banking offices and partners.
Please be assured, as our valued clients, you are our priority and will continue to be supported by Investec.
We have a team in Sydney and London, to deliver a smooth transition for our clients and our business.