Williams de Broe may be rebranded
Williams de Broe executive director Colin Lewis has hinted that the firm may be rebranded following Investec Group’s acquisition of its parent group Evolution Securities.
Investec last week announced it is acquiring Evolution for £233m.
Commenting on its takeover of Williams de Broe as part of the deal, Investec said: “Investec intends to achieve operational synergies, including some headcount reductions in support functions, but does not expect this to affect client service and operational effectiveness.”
Speaking to Money Marketing, Lewis hinted that the firm may be rebranded under the Investec banner. He says: “It remains to be seen if we will be independent. After all, Rensburg did get rebranded by Investec.”
In March 2010, Investec acquired Rensburg Sheppards and the business was rebranded as Investec Wealth & Investment.
An Investec spokesman says: “No decision has been made on a rebrand.”
Last month, Evolution bought BNP Paribas Private Investment Management, which holds £1.8bn of assets. The deal raised Williams de Broe’s total assets under management from £6bn to £7.8bn.
Hargreaves Lansdown senior analyst Meera Patel says: “When two companies merge, there is always going to be a period of restructuring and consolidation and it leads to rebranding under one name. It is nature taking its course.”