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Rathbones names Investec Wealth finance chief as CFO amid integration

29th Sep 2023 09:56

(Alliance News) - Rathbones Group PLC on Friday named Investec Wealth & Investment Ltd's finance director, Iain Hooley, as its new chief financial officer, as the companies continue to merge operations.

The London-based investment and wealth management firm said the appointment comes as Jennifer Mathias, who has been Rathbones CFO for four years, moves to the role of group chief of staff to support the integration of Investec W&I.

Investec PLC and Ltd, a Sandton, Johannesburg-based financial services firm, and Rathbones earlier last week completed an all-share combination of Rathbones with Investec's UK Wealth & Investment business to create the "UK's leading discretionary wealth manager". This gave Investec a 41% stake in Rathbones.

Shares in Rathbones were up 1.7% at 1,786.00 pence each in London on Friday morning. Investec traded 0.1% higher at ZAR10,994.00 each in Johannesburg.

By Sabrina Penty, Alliance News reporter

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