NEDBANK CAPITAl - Nedbank Group Limited

nedbank bancassurance and wealth ...continued£7,7 million in 2009. Advice-based salesthrough Nedbank Financial Planningincreased 36% to R6,9 billion, mainly intothe low-risk and money market funds.BoE Private Clients was rated No 1 inService and Advice in an independent surveyby SMRC Marketing Solutions (Pty) Limitedand Fairbairn Private Bank voted BestInternational Wealth Manager 2009.Prospects for 2010Bancassurance and Wealth is a key focusarea in the strategy of driving the growth inNIR and EP for the group. In 2010 we willfocus on• Opportunities to increase penetration ofthe existing Nedbank client base.• Expanding our short-term and life productrange.• Aligning of our high-net-worth businessand proposition.• Incorporating Imperial ProfessionalFinance.• Penetrating the Imperial Motor FinanceCorporation base with short-term andcredit life insurance.• Building a single asset managementdivision.Our businessBancassurance and Wealth comprises four divisions:Bancassurance• Nedgroup Life Assurance Company – provides credit life protection for death, disabilityand retrenchment as well as simple savings and investment products.• Nedbank Group Insurance Brokers – facilitates and brokers a variety of short-terminsurance products into the Nedbank client base.• Nedgroup Insurance Company – provides short-term insurance, including homeowner’sinsurance and personal accident cover.Asset Management• Nedgroup Investments – supplies a range of SA and offshore best-of-breed unit trustsand investment solutions.• BoE Private Clients and Fairbairn Private Bank – provides both active asset managementand investment solutions to the high-net-worth market.Wealth Management (Africa)• BoE Private Clients – offers a fully integrated spectrum of services, including investmentmanagement, financial and retirement planning, private lending facilities, call, notice andfixed-term deposits, tax and estate planning, and transactional banking.• Fiduciary and trust services – provides high-net-worth trust and fiduciary services.• Nedbank Financial Planning – provides professional advice on financial and assuranceproducts.Wealth Management (Europe and Middle East)• Fairbairn Private Bank – offers private banking, investment and corporate services, withoffices in the United Kingdom and Middle East, on the Isle of Man andJersey, and in SouthAfrica.• International Fiduciary and Trust Services – provides trust management services for the OldMutual Group, the high-net-worth segment and the independent financial adviser market.78NEDBANK GROUP ANNUAL REPORT 2009