Sunday, 22nd November 2009

 
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24 July 2009 - Tara Loader Wilkinson

Investec Private Bank loses regional managing director

The managing director of Investec's private banking business in the Channel Islands, has left to launch a boutique.

Mort Mirghavameddin will step down in September to launch a boutique based in London that will have links with Investec, according to a spokeswoman for the investment management firm.

Mirghavameddin will be replaced by Stephen Henry, currently Investec Bank Channel Island's financial director who will be based in Guernsey.

Mirghavameddin was promoted to the top position at Investec in the Channel Islands in 2001, after being head of group compliance at the wealth manager.

Tags: Investec Bank

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Relocation, relocation, relocation

Banks have never been shy of firing staff at the merest whiff of a downturn. First the fat, then the muscle and finally the bone. In the past, cuts have been so deep that firms have found it hard to benefit when the markets rebounded, paying over the odds to restaff at speed. Such wild oscillations in staffing numbers are known as “doing a Merrill”.

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