Investec Specialist Private Bank, part of the UK and South African-listed banking group Investec, has expanded its team in Guernsey with five new members of staff, as the firm says it has seen significant growth in its client base and business volumes.

Mark Renouf has been appointed as a relationship manager in the intermediary banking team; James Cooper has been appointed as a private client relationship manager; Stephen Houchen has joined the firm’s lending team; Susan O’Hagan has joined the finance team, and Darren Baker has been recruited to provide online technical support.

Renouf’s expertise includes corporate finance and property lending, and in his new role he will be responsible for locally-based intermediaries, trust companies and fund administrators. Cooper, meanwhile, will be responsible for ISPB’s personal clients.

Houchen, who joins the firm after 25 years in the UK banking sector, will be assisting the banking team and maintaining relationships in the residential and commercial property markets.

Baker and O’Hagan join the firm from RBS International and Ernst & Young respectively.

In other recent news, earlier this year Investec reported that net operating income in the three months to 30 June had risen by 11 per cent year-over-year.