Investec's Money Manager Seen as Target After Split From Parent
After amassing 109 billion pounds ($143 billion) in assets within the belly of Investec Plc, Hendrik du Toit can now plot his own course as the money manager he founded splits from the banking group. For Investec Chief Executive Officer Stephen Koseff it is a bittersweet moment. Investec is spinning off the asset-management unit after a review found there is not much synergy with its banking and wealth and investment divisions.
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