FANews
FANews
RELATED CATEGORIES

Nedbank Capital reshapes for growth

12 June 2008 Nedbank Capital

Nedbank Capital has reshaped its operations to drive growth and to support its expansion into Africa and other international markets.

MDof Nedbank Capital, Brian Kennedy says:“Our specialised finance and investment banking units have been organised into a single banking unit, with one profit and loss account. The new investment banking entity now houses Nedbank Capital’s collective capabilities in identifying, structuring and executing innovative transactions across industry and client groups.

“The new structure positions us well to take advantage of growth opportunities on the African continent and abroad especially in sectors where we specialise, led by mining & resources as well as energy, infrastructure and structured trade finance. To this end, we have increased our research capability. We are also expanding our African office network and growing our mining and resources team in London, with a focus on supporting mining projects into Africa.”

The combined business, Investment Banking, is operating under the joint leadership of Mark Weston and Mark Sardi. They previously headed the two separate units.

Kennedy says the new arrangement was inspired by the need to optimize access to deals by unleashing the full force of the Group’s investment banking capabilities.“Our aim, apart from growing our African and international presence, is to increase internal collaboration, improve innovation and enhance our ability to originate deals by selling multi-product solutions. Greater collaboration extends beyond investment banking and Nedbank Capital to our corporate banking colleagues in Nedbank Corporate and to Old Mutual, as majority shareholder in the Nedbank group.”

Because of the increased size of the origination team and the combined banking businesses, Baba Mashologu and Philip Reynolds have been appointed as joint heads of Origination to ensure the development of future pipeline and to drive a sector focus.

Kennedy says other new roles in the reorganisation include the appointment of Clement Mamathuba as head of Strategy and Research, and Rudolph van Schalkwyk as head of Risk and African Operations. Sekete Mokgehle takes over from Van Schalkwyk as head of Global Structured Trade and Commodity Finance.“We are very pleased to have filled all positions with strong internal candidates,”says Kennedy.

A dedicated aircraft financing unit has also been set up, says Kennedy.

Kennedy says that in a maturing market for traditional investment banking products, it is increasingly important to develop the business into emerging growth areas.

Quick Polls

QUESTION

Do you think that ESG focused funds are more successful than traditional funds?

ANSWER

Yes, the stats do not lie
No, the stats regarding value lack context
A E fanews magazine
FAnews August 2019 Get the latest issue of FAnews

This month's headlines

Create designer policies through AI
Are advisers in a precarious position?
A claim, COIDA and a dog bite
Non-disclosure never an innocent fraud
Prescribed assets: The threat to pensions
Cannabis and the issue of trust
Getting the most from disability claims
Subscribe now