History
Investec was founded as a small leasing and financing company in 1974 in Johannesburg by Larry Nestadt, Errol Grolman and Ian Kantor. It has expanded through a combination of organic growth and strategic acquisitions.
It secured a banking licence in 1980 and was first listed on the JSE Securities Exchange in South Africa in 1986, after merging with Metboard, a trust company. In 1988, Investec Bank Limited was restructured into Investec Group Limited ("IGL"), giving Investec Management and staff control of the company.
In 1990, Investec acquired property management company I. Kuper & Company (Pty) Limited, Corporate Merchant Bank Limited (formerly Hill Samuel Merchant Bank Limited) and trade finance company Reichmans Limited.
Investec entered the UK market in 1992, by acquiring London- based Allied Trust Bank Limited ('ATB'), this was the first international acquisition by the Group.
In 1998 Investec acquired Guinness Mahon, a leading London based merchant bank, and Henderson Crosthwaite, its stockbroking arm, for £95m. It also bought Hambros plc, another London based merchant bank the same year.
It was first listed on the London Stock Exchange in 2002. In 2003 in a Black Economic Empowerment transaction empowerment partners acquired a 21.5% stake in the South Africa-listed Investec.
In 2005 Investec sold its UK Private Client Stockbroking operation, Carr Sheppards Crosthwaite Limited to Rensburg plc. Investec retains a 47.7% interest in the combined entity, Rensburg Sheppards plc.
In 2007 Investec plc acquired Kensington Group plc and Experien (Pty) Ltd.
Investec plc acquired the remaining shares in Rensburg Sheppards plc in 2010.
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—Ludwig Wittgenstein (1889–1951)
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“The history of medicine is the history of the unusual.”
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