The story
Investec was founded as a small leasing and financing company in 1974 in Johannesburg, South Africa, by Larry Nestadt, Errol Grolman and Ian Kantor. It has expanded through growth and acquisitions. It secured a banking licence in 1980 and was first listed on the JSE Securities Exchange in South Africa in 1986, after merging with Metboard, a trust company. In 1988, Investec Bank Limited was restructured into Investec Group Limited ("IGL"), giving Investec Management and staff control of the company.
In 1990, Investec acquired property management company I. Kuper & Company (Pty) Limited, Corporate Merchant Bank Limited (formerly Hill Samuel Merchant Bank Limited) and trade finance company Reichmans Limited. Investec entered the UK market in 1992, by acquiring London-based Allied Trust Bank Limited ('ATB'), its first international acquisition.
In 1998, Investec acquired Guinness Mahon, a leading London based merchant bank, and Henderson Crosthwaite, its stockbroking arm, for £95 million. It also bought Hambros plc, another London-based merchant bank the same year. It was first listed on the London Stock Exchange in 2002. In 2003, in a Black Economic Empowerment transaction empowerment partners acquired a 21.5% stake in the South Africa-listed Investec.
In 2005, Investec sold its UK private client stockbroking operation, Carr Sheppards Crosthwaite Limited to Rensburg plc. Investec retained a 47.7% interest in the combined entity, Rensburg Sheppards plc. In 2007, Investec plc acquired Kensington Group plc and Experien (Pty) Ltd.
Investec plc acquired the remaining shares in Rensburg Sheppards plc in 2010. This business has since been rebranded as Investec Wealth & Investment and incorporates other wealth activities previously operated through the bank. In 2011, Investec acquired London-based broker and asset manager Evolution Group for £230m after a bidding war with Canaccord Genuity.
In June 2012, Investec plc completed the €32 million acquisition of Irish brokerage firm, NCB. As a result, Investec now employs more than 240 specialists in Ireland.
In December 2017, Investec acquired Amicus Commercial Finance and rebranded it as Investec Capital Solutions.
In September 2018, following a strategic review, the Boards of Investec plc and Investec Limited announced that Investec Asset Management would become a separately listed entity. In March 2020, the Asset Management business was demerged and listed as Ninety One plc. The new name is in recognition of the brand's heritage – it was in 1991 that the investment firm was started in South Africa.
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In April 2023, UK wealth manager Rathbones agreed to buy Investec's wealth and investment businesses in the UK and Channel Islands for £839 million. Under the deal terms, Investec Group owns 41% of Rathbones. The deal excluded Investec Bank (Switzerland) and Investec International wealth business.
In September 2025, Investec announced that it had become one of the first major banks in South Africa to enter the electricity market, after the National Energy Regulator of South Africa (Nersa) granted it a trading license. The license allows Investec to source its own power from renewable projects, as well as trade electricity over Eskom’s transmission and distribution networks.
From Wikipedia’s article on Investec, shared under CC BY-SA 4.0.4