Ex-Abbey team to launch structured products at Investec

Investec Capital Markets is creating a new structured products retail business as the UK market continues to expand. The unit will be headed up by Gary Dale, who was responsible for Abbey’s Independent Financial Adviser (IFA) business until last month.

“The size of the market speaks for itself - £7bn in 2007, and targeting £8-10bn this year,” says Dale, who will be responsible for distribution of the new range. He says that high volatility and low interest rates have made the market climate “perfect for launching this year”. Investec’s equity derivatives division was integrated with the company’s capital markets business nine months ago, by which time Dale says the decision had been made to move into the IFA market. Last August, Investec