Investec Asset Management has named former Julius Baer banker John Cappetta as the head of private banking and Asia adviser.
In the new role, Cappetta will be tasked with overseeing the private banking distribution business in Asia. He will operate out of Singapore.
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Cappetta previously held the role of Asia funds advisory head at Julius Baer in Singapore.
In his 28-year long financial services career, he also had stints at Merrill Lynch, George Van & Company and Safra Asset Management in the US, Singapore, as well as Australia.
Developments at Investec
Earlier this week, UK-based wealth manager Brewin Dolphin completed the acquisition of Investec’s Irish wealth management unit. The deal, valued at €44m ($49m), is said to result in the creation of Brewin Dolphin’s third-largest office by assets.
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By GlobalDataIn May, Investec Group closed its online investment platform, Click & Invest, due to the increase in operating costs.
In September last year, Investec planned to demerge and separately list its asset management business after a strategic review.
In July 2018, Investec Bank received a new Class 1(3) financial services licence from the government of Isle of Man to start operations in the island.
Additionally, Investec Wealth & Investment moved to a larger office in Leeds last year to support growth.
