Investec Asset Management's executive team is planning to increase their shareholdings in the business after a previous payout worth US$280 million for 15% shareholdings. This was confirmed by Thabo Khojane, the unit's managing director.
In an interview held at Cape Town, Khojane referred to an option in increasing the stake, saying, "We'll have 20% by 2020 and hopefully more than that after that. We'd love to buy more and the shareholder would love to sell less. The 20 percent is as a result of that kind of balancing act."
Investec Plc owns banking and money management business in South Africa and the United Kingdom. It had announced last March 14 that its senior employees in its asset management unit would be purchasing a 15% share in the business for GBP180 million. They also have tright to boost the shareholdings by another 5% in the next seven years. The buyers are headed by Investec Asset Management head Hendrik du Toit and the group comprises of 40% of senior management and employees.
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