Investec to hive off asset manager

Investec reported a 14.2% rise in half-year profit.

Operating profit to September 30 rose to £359.3 million (about R6.55 billion) from £314.6 million a year ago.

Investec’s banking unit reported an 18% increase in operating profit to £245.4 million while its asset management arm delivered a 10% rise to £91.5 million. The company plans on separately listing its asset management operations in London. – Reuters