London - Investec has integrated its UK debt capital markets business into its corporate and acquisition finance team in a move that will see senior bankers leave.
Departures include Florian von Hartig, head of debt capital markets and credit trading, and JP Albin, who worked in syndicate, according to sources. IFR was unable to reach von Hartig or Albin for comment.
Several other bankers, including in sales and trading, are also potentially at risk, according to sources, as Investec will shut its EM debt capital markets business in the UK, though some individuals may be reassigned other roles.
In a statement, the South African bank said "the integration will enhance our DCM offering in the UK, where we will continue offering innovative debt solutions allowing us to serve our clients' financing needs."
A banker away from Investec was sceptical about how effective the DCM effort will be and how many resources will be dedicated to it.
"They want to be a player but I'm not sure what they want to play in," he said.
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Investec added there was no change in its India and South African debt capital markets business which "will continue to offer global distribution capability."
Von Hartig joined in January 2015 from Standard Bank to build the global DCM business, which was primarily focused on niche opportunities in Africa.
But the bank failed to make much headway with Investec ranked 369th in the global bond league tables in 2016, according to Thomson Reuters data.