Financial firm in buying mode

SPECIALIST financial services provider, Investec is confident of growing its Irish business through acquisition over the next couple of years.

The IFSC-based asset/ wealth management/ treasury and investment banking business has mainly grown by organic means over the past decade – the Irish division saw pre-tax profits grow by €3 million to €36m in the year to the end of last March.

A move towards growth through acquisition, however, would likely see Investec strengthen its existing private client business; which would see similar divisions of banks, stockbroking firms and private equity houses in its sights.