Investec to spin off asset management arm under leadership of du Toit

In a stock exchange announcement, the firm said there were "compelling current and potential linkages" between its Specialist Banking and Wealth & Investment businesses, but limited synergies between these two businesses and Investec Asset Management (IAM). As a result, it now plans to list IAM as a separate business on the London Stock Exchange, with an inward listing on the Johannesburg Stock Exchange. Meanwhile, the Investec Specialist Banking and Wealth & Investment businesses will remain part of the group's current dual listed companies structure. Investec said: "The board bel...