Investec Wealth & Investment UK chief executive Jonathan Wragg saying the name Investec Wealth & Investment will be synonymous with the enduring values and modern methods that have allowed their business to thrive over many years.

"In addition, the change of brand also presents us with new opportunities to grow, as part of a FTSE 100 group that is committed to developing our business," Wragg said.

Rensburg acquired Carr Sheppards Crosthwaite from Investec, in return, Investec took a 47.7% stake in Rensburg Sheppards, before completing the acquisition last year in a deal worth £412m.

Investec Wealth & Investment offers wealth management and investment services to private individuals, charities, friendly societies, trusts and professionals advising these clients.

It has more than 600 staff located at its 11 regional offices in Sheffield, Belfast, Cheltenham, Edinburgh, Glasgow, Farnham, Leeds, Liverpool, London, Manchester and Reigate.