Investec shuffles UK business

Published Feb 17, 2017

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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. 

REUTERS

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