04 Dec 2018

Investec ranked best private bank and wealth manager in SA for fifth year by the Financial Times of London

Investec Private Banking and Wealth & Investment has been named the best private bank and wealth manager in South Africa, for the fifth year in a row. This week’s Global Private Banking Awards hosted by the Financial Times of London, seek to honour excellence in private banking and wealth management, where winning institutions are those that illustrate the ability to best grow new business and profits while adapting portfolios, asset allocation and products to clients’ changing needs and attitude to risk. 

Over the years, Investec has shown consistent innovation to anticipate and fulfil client needs in a shifting economic landscape. The Investec Private Bank Account was the first to combine the benefits of credit card and transactional accounts. The company was an early adopter of app-based banking and gives clients the benefits of its analyst insights to inform self-directed stockbroking capabilities. 

Over the last year, Investec Private Banking continued to increase profitability through increased activity and by improving scale and efficiency through investment in systems and operations. The lending books increased by 11%, the number of Investec Private Bank Accounts increased by 10% and the number of UK private bank accounts increased significantly, by 59%. In addition, the Investec Youth Account was launched. Investec Wealth & Investment currently manages £55-billion for clients around the world. 

“In a competitive South African wealth management market, what gives Investec the edge is its use of technology and data to enhance the client experience, while offering personal service in private banking and wealth management,” said Yuri Bender, Editor-in-Chief of Financial Times UK, which presents the annual awards.

This year, the Global Private Banking Awards made specific mention of the Investec One Place philosophy as an example of innovation that best delivers on client needs. “At Investec, we continue to place client service at the centre of everything we do. This includes making sure that all client interactions are out of the ordinary, and we empower clients to make informed decisions,” said Deon Katz, head of Investec Private Bank South Africa. Katz added that the Investec One Place philosophy of providing local and international access to banking and investment services has consistently appealed to clients and evolved over recent years to meet the needs of clients in a global marketplace. “One Place allows South African clients to open a sterling-based transactional account in the UK. The innovative solution enables clients to receive and make payments in the UK, or simply to use the facility as an offshore account,” said Katz. 

According to Henry Blumenthal, head of Investec Wealth & Investment South Africa, client centricity is at the heart of everything Investec does and through its Global Investment Strategy Group, processes, extra-ordinary partnerships and service excellence remain core priorities to cater to clients’ financial needs.

“We are humbled by the recognition of this global award and it is a testament to our efforts to constantly and consistently provide meaningful and lasting value to our clients. At the very heart of this award is a collaboration of our people, our international capabilities and our understanding of what truly matters to clients – further validation of our One Place philosophy. We exist to create, grow and preserve our clients’ wealth through generations and for us, we never stop being curious and remaining mentally flexible in an ever-changing landscape,” concluded Blumenthal.