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.