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  • Seller
  • Buyer
  • Type
  • Date Announced
  • Seller AUM
  • Investec (US) Incorported (Investec USA Holdings Corp.)
  • Bank Hapoalim B.M.
  • Securities and Investment Banking
  • August 31, 2005
  • N/A

Seller Details

Investec US provides securities trading and research services to institutional clients and specializes in U.S.-based stocks, options and bonds, as well as Tel Aviv-NASDAQ dual-listed Israeli securities. The company has operated over 75 years, is authorized to work in all 50 states in the USA and has a seat on the New York Stock Exchange.

Buyer Details

Bank Hapoalim is Israel 's largest bank and leading financial group engaged in retail and corporate banking. The Bank Hapoalim Group in Israel includes 4 commercial banking subsidiaries, as well as financial companies engaged in provident and mutual fund management, trust services, portfolio management and investment banking, each of which is a leader in its field in Israel.

Bank Hapoalim operates globally and is active in major financial centers in Europe, North America and Latin America through 41 branches, subsidiaries and offices, focusing on private banking and trade, corporate and syndicated financing.

Transaction Summary

Bank Hapoalim purchased Investec US Incorporated from its present owners, Investec USA Holding Corp., whose parent company is the UK-based Investec plc.

This transaction represents a continuation of Bank Hapoalim's strategy of international expansion and should significantly increase Hapoalim's securities trading capabilities in the United States. The acquisition of Investec's brokerage platform and relevant licenses allow Hapoalim to provide its Israeli, international and U.S. clients with a highly professional level of institutional brokerage services.

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