INVESTEC Wealth & Investment (Channel Islands) Limited (“IW&I (CI)”) rang the bell yesterday (Thursday 27th February) to open the London Stock Exchange’s UK markets.
IW&I (CI) is the newly set up investment management company in Guernsey, which is wholly owned by Investec Wealth & Investment Limited (“IW&IW) in the UK. IW&I (CI) director and head of office Shaun Lacey represented the company at the traditional ceremony, which sees a new company open the world’s most international market.
‘It was an absolute honour to be involved in such an historic and prestigious event to mark the launch of our new wealth management business in Guernsey, which opened in November,’ he said.
‘We have had a very positive start since our launch in November last year and have attracted a lot of new wealth management business, as well as expanding our team at a time when other financial institutions appear to be downsizing.’
Market Open Ceremonies take place each day at 8am in London Stock Exchange Headquarters in Paternoster Square. Hosted by a senior executive from London Stock Exchange Group, the ceremony offers companies joining London Stock Exchange’s markets the opportunity to mark their success on the day of their admission.
Historically a bell or electronic bell marked the beginning of the trading day on London Stock Exchange’s trading floor. In 1986 however, the deregulation of the market and dissolution of the trading floor saw an end to this long-standing tradition. In 2011, London Stock Exchange launched a new installation that would revive this celebrated tradition in London. New companies, issuers and member firms have joined charities and leading public figures in participating in this new event, marking the start of trading on the world’s most international market.
Over 500 high definition LED screens make up the three-story installation. Market movement and prices are displayed throughout the day with real time data supplied by Proquote and news feeds from CNBC. The bespoke market opening mechanism is launched using an engraved glass tablet, which is given to the individual opening the market as a memento of the day.
IW&I and its subsidiaries offers its clients access to a broad spectrum of services including further lending, specialised institutional opportunities and currency hedging facilities through the Investec Group.
‘We manage a wide range of portfolios and they are all tailored to the individual client’s requirements – a truly bespoke service being the cornerstone to our approach. We offer financial expertise with out of the ordinary levels of customer service. This is a key tenet of our investment philosophy,’ said Mr Lacey
Category: Finance & Business