INVESTEC has been recognised by the Lt-Governor and Commerce and Employment as one of Guernsey’s most successful finance houses. As part of his regular industry visits, Sir Fabian Malbon indicated that he wanted to see how a leading bank operated.
His office contacted the Awards for Achievement organisers and Commerce and Employment member Deputy Mike O’Hara, who helps judge the awards, suggested Investec after it narrowly missed out in the best medium business category.
The department’s deputy minister, Carla McNulty Bauer, joined Sir Fabian for a tour of the 180-staff, three-pronged operation of Investec Bank, Trust and Asset Management.
Mort Mirghavameddin, the managing director since 2001, led the tour, joined by finance director Steve Henry and head of distribution David Fitch.
The three companies have achieved a compound growth of 40% over the last five years.
The management claims a hands-on approach in helping staff to fulfil their potential has been key to the business achieving its ambitious plans.
Mr Mirghavameddin said Investec had a culture that enabled extraordinary performance through its cast-iron integrity and corporate values, innovation and social commitment to the staff and community.
It currently contributes almost £7m. annually in tax, made up of £5m. in corporation tax and another £1.8m in tax and social security. This will be dramatically reduced next year when the zero-10 structure is introduced.
Deputy McNulty Bauer said its track record of growth was impressive and it had maintained this high level of performance without compromising customer service.
‘I am also delighted to note that they have achieved this level of growth whilst creating an office culture that attracts and retains talented and enthusiastic staff.
‘There was a great atmosphere around the offices and I was pleased to hear about their support to train local staff to the highest standards.’
More than 130 different courses have been attended in the last 12 months and professional qualifications are held by 47% of bank staff.
Mr Fitch, who has been at Investec for five years, said: ‘Banks historically have been better at talking to clients than listening to them. But we have learned to listen to each other, which enables us to offer innovative solutions tailor-made for our clients.’
Marketing, client events and involvement with the local community have all helped the firm become a well recognised name.
It sponsors sports including hockey, golf, junior rugby, squash for schools and under-21 cricket. For more than two-and-a-half years it has been partnered with the Dyslexia Day Centre. For the last six, Investec has operated a charitable committee that coordinates other community donations. A recent initiative has been the establishment of the Green Team to review and reduce the bank’s environmental impact.
Article posted on 7th May, 2007 - 12.00am
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