Bank targets cashed up FDs
Tuesday, 15th January 2008 by Catherine Woods
The growing wealth of the UK's FDs has prompted Investec Private Bank to offer them a lending facility that will allow them to borrow money to acquire or increase a strategic stake in a listed company.
Investec says the money can also be used to raise liquidity against shares they hold that they can’t or don’t wish to sell, allowing them to reduce risk by diversifying wealth into other assets.
Investec’s David Drewienka says: “Many finance directors have considerable wealth tied-up in the companies they work for and this is expected to grow, which should make our service all the more relevant and interesting to them.”
In the past the bank has only targeted CEOs and founders of public quoted companies.
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