Guinness Flight Hambro - Investec merger finalised
The official merging of Investec Asset Management and Guinness Flight Hambro went through last week, to form Investec Guinness Flight.
The new group becomes a wholly owned international fund management arm of South African bank Investec Group Limited.
Guinness Flight was targeted by Investec in April when the Bank of Yokohama offered Guinness Mahon for sale at £95m, putting 44 per cent of the fund manager into play.
Investec later bought Hambros for £428m to acquire another 44 per cent and finally bought out the 12 per cent stake held by management to give it full ownership.
The deal was originally resisted by Guinness Flight management because Investec did not bring any US distribution nor significant funds under management for Guinness Flight to manage.