Investec and Rathbones to Merge, Forming £100 Billion UK Wealth Manager


Investec Plc and Rathbones Group Plc have entered into a major agreement that will unite their two businesses and generate a UK wealth manager with collective funds amounting to £100 billion ($124 billion). Their all-share combination partnership will see Investec Wealth & Investment Ltd. joining with Rathbones to form what will continue to be an independent company under the Rathbones brand, with Investec as a key long-term investment partner.

Investec Group will have a 41.25% economic interest in the merged company, although its voting rights will be limited to 29.9%. According to the statement, Investec W&I UK’s value by the close of the deal is estimated to be roughly £839 million. As part of their relationship agreement, two Investec representatives will be part of the new company’s board.

The newly merged entity will operate out of Investec’s London office, unifying two businesses which have an extensive history of providing UK wealth management and have cultures which complement one another. Fani Titi, Investec Group CEO and spokesperson for the announcement, said that the deal was a remarkable and long-term opportunity for their UK wealth strategy as well as an affirmation of their commitment to UK wealth management, and that their entire UK business would be enhanced by this move.