After a busy couple of years that has seen extensive restructuring at Anglo-South African bank Investec PLC (LSE:INVP), things should be calmer going forward.
Investec Wealth & Investment UK has been merged with Rathbones for a 41% stake in the enlarged business, Ninety-One spun out and Bud Financial streamlined ahead of a possible sale.
Next week’s pre-interim update should see how a lower interest rate environment will affect the business after a tailwind in recent years, though its focus on high net worths and wealth management should give it a buffer.
Earlier this year, Berenberg was forecasting annual profits in the twelve months to March 2025 to rise to £910 million (£847m).