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Brexit statement

This update provides information for Nedbank Private Wealth and Nedgroup Trust.
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Published 24 September
1 min

The UK is no longer a member of the European Union (EU) but there are still a number of outcomes that may result from the Brexit process.  We would like to reassure clients that we have assessed the impact of each of these, including the most extreme scenario, which is if no deal is reached with the EU – a ‘hard Brexit’. We are well positioned to provide continued service and support to our clients throughout this period.


Investment positioning


We expect there to be market volatility should there be a hard Brexit at the end of December. It is worth noting that our investment strategies offer global diversification, so while further volatility is certainly possible, we are confident that our global investment approach is well positioned to offer attractive long term risk-adjusted returns.

Banking


While we do not expect any significant disruption to banking, payments or card services, even in the result of a hard Brexit, we continue to monitor the situation carefully.


Third party arrangements


Clearing banks. We utilise the services of the following UK clearing banks: Natwest (for sterling and euro) and Deutsche Bank (for US dollars).

  • Natwest is a UK based bank and there is expected to be no impact on its clearing activities as a result of Brexit.
  • Deutsche Bank has moved some of its clearing activity to Frankfurt, but plans to retain its business in London, so there should be no impact as a result of Brexit.

Custodian. Our custodian is Citibank NA (London branch) for our UK office, and Citibank International Limited (Luxembourg branch) for Isle of Man and Jersey offices.  We have received reassurances from our custodian that they do not expect any impact in the services that they provide to us, even in the scenario of a hard Brexit.

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Get in touch

If you are interested in becoming a client, please complete the form via the ‘become a client’ button below. Alternatively, if you are already a client, or if you have a question about how we help clients in particular circumstances, please use the ‘contact us’ button.

 

We will get back to you as soon as we can during office hours, which are Monday to Friday, 8am to 8pm (UK time), except for UK public holidays.

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Thank you for your interest in Nedbank Private Wealth. Please call us on +44 (0)1624 645000 or complete the requested information and one of our team will get back to you soon. We look forward to speaking with you.

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Give us a call today on +44 (0)1624 645000 or please complete the requested information and one of our team will get back to you soon. We look forward to speaking with you.

Our office hours are weekdays from 8am to 8pm UK time, except for UK public holidays.

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