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South African-Based Bank Names Head For Asia, Middle East Operations
Sandra Kilhof
29 July 2013
The private banking arm of South African in Miami, where he was responsible for promoting banking and investment services to clients in South America.
Greg Horton, managing director of Nedbank Private Wealth, said that the firm was experiencing high demand for private banking services in the Middle East and Asia region.
“We opened our Middle East office in April 2011 in order to serve our existing clients in the region, and now that it is firmly established, we are experiencing rapid growth there, as well as further afield in the Far East.”
Nedbank Private Wealth provides private banking, investment management and fiduciary services through its offices in the UK, Isle of Man, Jersey, Dubai and South Africa.
In related news, Nedbank Group, which is the majority-owned South African banking subsidiary of Old Mutual, said that its net interest income grew 7.3 per cent to ZAR5.12 billion (around $572.75 million), as of 31 March 2013, thanks to growth in average interest-earning banking assets.