Leading international private bank and wealth manager, Investec, claimed three awards at the prestigious annual PWM Global Private Banking Awards by the Financial Times of London, including 'Best Private Bank in South Africa' for the 11th consecutive year.
Investec also took home the inaugural 'Best Branding in Private Banking (Africa)' award and was again recognised as the 'Best Private Bank and Wealth Manager in Africa for Philanthropy Services' for its continued commitment to creating enduring worth and making a positive contribution to society.
Since its inception in 2009, the Global Private Banking Awards aim to gather qualitative and quantitative information from private banking groups to recognise and reward industry excellence. An expert panel of 15 industry professionals based in North America, Asia, and Europe judge the submissions.
“These awards affirm the relevance and impact of our distinctive approach as an international private bank and wealth manager,” comments Cumesh Moodliar, Head of Investec Private Bank and Private Client SA.
In a sector where private banking has become broadly commoditised and reduced to just another level of banking, Investec continues to differentiate its offering through valuable, personalised experience and service.
A key attribute of the continually evolving Investec Private Banking value proposition is the acceleration in growth and capabilities offered by Investec Bank Switzerland, which gives high-net-worth clients a fully-fledged Swiss suite of wealth and banking services.
“As the only financial institution in Africa with access to a Swiss banking and wealth management license from Investec Group, we are focused on making the Swiss office a home for our clients’ international assets. This boutique service accommodates a host of our clients’ international and intergenerational investment goals to create worth beyond wealth, through a global suite of exclusive investments,” explains Joubert Hay, CEO of Investec Wealth & Investment International.
Investec Bank Switzerland AG combines Swiss banking heritage with the resources of the Investec Group to offer innovative global wealth management and banking solutions.
“Clients can enjoy the heritage, stability, and discretion of a boutique Swiss private bank while benefiting from Investec Group's global investment expertise and entrepreneurial muscle,” elaborates Hay.
The sovereign jurisdiction offers numerous advantages, including a AAA rating, economic stability, legal, tax and estate planning benefits, a strong currency, and a multilingual workforce, making it an established and attractive banking and investment destination for discerning international and local clients.
Investec's Swiss office is for high-net-worth clients, families and trusts. It offers all Investec’s investment products across all asset classes, cash solutions, execution and custody services, Lombard lending, multiple currency accounts and foreign exchange dealing.
“The other distinctive attribute that elevates our value proposition is a connected ecosystem that encompasses our client-centric approach and technology platforms, which creates long-term value for clients by offering profitable, impactful and sustainable solutions personalised to their individual needs, both locally and internationally,” continues Hay.
In this regard, Investec sets the private banking benchmark on service through a high-tech, high-touch approach that blends face-to-face, deep client relationships with a 24/7 global Client Support Centre and technology-led innovation.
For example, Investec One Place™, created in partnership with international teams in the UK, Switzerland, Mauritius and the Channel Islands, distinguishes the bank's private banking offering in South Africa.
“This proposition provides our clients with seamless private banking and wealth management services locally and internationally through one organisation,” explains Moodliar.
Through Investec One Place™, clients can view and manage their consolidated financial affairs via a single sign-in on the Investec app, which is unique in the local market.
Since launching in 2014, Investec One Place™ has evolved from individual banking and investments to a holistic multi-generational solution.
“Our high-tech, high-touch approach enables us to specialise in partnering with young professionals through to high-net-worth individuals, their families, charitable trusts and pension funds,” continues Moodliar. “We put our clients, their families and their businesses at the centre of an integrated, personalised ecosystem, which also includes access to specialist teams in life insurance, tax and fiduciary matters, and structured property finance, enabling them to create, grow and preserve their wealth with us for future generations.”
By leveraging this value proposition, Investec continues to experience growth across its South African businesses despite the challenging macro-economic environment, with new private bank accounts increasing by 14%, the number of UK private bank accounts opened by South Africans rising by 6.7%, and funds under management increasing 9.3% for the financial year ended March 2023.
Investec has also increased its national footprint in South Africa, offering clients access to 12 offices in five provinces to cater to key trends around semi-gration and remote working.
“As a global brand with an international footprint and clients who are global citizens, we continue to bring teams together across all regions, including dedicated private bankers and wealth managers in Zurich, as well as other geographies and areas of expertise, to meet their clients’ needs – anywhere, any time,” concludes Moodliar.