How good to see that Investec is embarking on a thorough-going makeover of its private bank. It must be hoped that this will turn it into an a la mode star of the wealth catwalk.

Signs that Investec is putting years of what pals unkindly called a rather confused strategy have just appeared.

For did this Anglo-South African company want to be alternatively dominated by investment banking, private banking, investment management or quasi retail banking? Nobody quite knew.

But as with ever-changing Paris spring fashions, Investec has started to show a tempting glimpse of its garters.

Investec Wealth and ...