Investec Market-Making Head Andrew Stancliffe Said to Quit Bankby
Stancliffe leaving to take a job elsewhere in industry
Neil Jenner said to run trading team on interim basis
Investec Plc’s head of market making Andrew Stancliffe has left the bank to take a job elsewhere in the industry, according to a person with knowledge of the matter.
Stancliffe resigned from the London office this week, said the person, who asked not to be identified because the departure isn’t public. Neil Jenner, another equity trader at the bank, will run the desk on an interim basis.
Officials at Investec in London didn’t immediately respond to requests for comment, while Stancliffe didn’t respond to telephone calls and e-mails. Jenner declined to comment on his new role.
Stancliffe led a team of 12 traders who deal in European equities, according to his profile on the bank’s website. He had been head of market making since December 2011, when he joined Investec after the bank took over his employer Evolution Securities. Before that, Stancliffe spent eight years at Merrill Lynch.
Investec, led by Chief Executive Officer Stephen Koseff since 2002, owns a bank and money manager in the U.K. and South Africa, where the lender makes most of its profit. First-half profit rose 15 percent driven by improved performance at the banking units in both countries, the company said Nov. 19.
The stock was up 0.2 percent at 442.2 pence at 12:34 p.m. in London. It fell 11 percent last year.