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Profits fall at Investec's UK wealth arm amid CEO change

News Team, 21/05/2020

Investec Wealth & Investment UK saw profits fall in its full-year 2019, as it was impacted by falling markets and lower fees following the sale of its Ireland business to Brewin Dolphin.

The firm this morning reported its results for the full year to 31 March 2020, in which assets under management (UK and the smaller South Africa business) fell 19.2 percent £44.2 billion. The business achieved net inflows of £599 million throughout the year.

The South African business saw its operating profit of £26.8 million grow 5.7 percent in local currency (and 2.3 percent when converted to sterling), while the ‘UK & ot...


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