Half Year 2020 Investec PLC Earnings Call Transcript
Welcome to the interim results presentation. I would like to make a few comments before we go into the detail of the presentation. You will remember that last year, we did announce that we will be demerging and listing separately our Global Asset Management business. This was in pursuit of our stated strategy that we wanted to focus and simplify the business as we go forward because we believe that as a Board that, that would be the best way for us to achieve our long-term growth objectives.
We also, in February this year at a Bank and Wealth Capital Markets Day, did announce a number of initiatives that we thought we would execute in order to increase significantly the returns that, that business is generating. And beyond that, these initiatives would give us a platform that would enable us to grow that business. So in these results, you will see that we have taken certain strategic actions, which encompass the demerger of the Asset Management business; the further focusing and simplification of the Bank and Wealth business, which
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