Best private bank in South Africa
Best private bank for customer service (Africa)

During the unprecedented Covid-19 period, and its associated crisis in markets and public health, the C-suite at Investec in Johannesburg, South Africa, decided that they must further increase their reliance on technology and data analysis. “Market behaviour isn’t rational, and this is acutely evident during periods of heightened uncertainty,” says Henry Blumenthal, chief executive at Investec Wealth; Investment (South Africa). “With a plethora of information and data available, it is appropriate to maintain a continued focus on data analysis. This enables a sense of clarity and understanding that supports better portfolio management and asset allocation.”

The view at Investec was that both diversification and resilience remained key during a time of heightened volatility and emotions. “Concentrating on data gathering and analysis versus asset and portfolio management isn’t a trade-off, the two are interdependent,” believes Mr Blumenthal. The growing scope of alternative asset classes has also played a part in offering diversification to improve returns. “This is underscored by the global trend that shows private assets in portfolios of high net worth individuals and families steadily increasing,” he says. “We believe South Africa is likely to follow this trend.” Investec has also been blazing a trail for diversity and inclusivity for many years. “We know that diversity inherently gives rise to a more inclusive environment. Diverse teams perform better. They challenge the status quo, can overcome greater complexity in problem-solving, inspire innovation and thrive in an ever-changing environment,” says Cumesh Moodliar, head of Investec Private Banking (South Africa). “Diverse representation within product development and through ideation processes provides opportunities for offerings, campaigns and initiatives that are intentionally inclusive of various societal segments.” YB