Investec drops historic Williams de Broë brand
Wealth manager Williams de Broë will be renamed Investec Wealth and Investment following last year’s takeover of the group.
Investec, which reached a deal with the firm’s parent Evolution in September last year, will drop the historic name in August.
The change of brand will spell the end of over 100 years of wealth management under the Williams de Broë name.
Founded in 1869 by Baron Emile d’Eichthal, Gerald Williams entered the partnership in 1883, followed by Conrad de Broë in 1889 when Williams de Broë & Co was formed.
Banque Bruxelles Lambert acquired an 80% holding in 1985 and was itself acquired by ING Group in 1998. Williams De Broë was then sold to UK stockbroker and fund manager Evolution Group in 2006.
In September last year, Investec agreed to buy Evolution Group for £233m. Alex Snow, chief executive of Evolution, said Williams de Broë would be able to grow and continue to provide clients with a best-in-class independent wealth management service as a result of the deal.
In October last year, Williams de Broë also acquired BNP Paribas Private Investment Management and took control of £1.8bn AUM.