Australasian Dental Practice

Wednesday, 19 June, 2024

31 May 2014 | Australasian Dental Practice

news > Spectrum > Page 28

Investec’s Professional Finance business sells to Bank of Queensland

Mergers and Acquisitions

Investec Australia's Professional Finance and Banking business will continue to focus on delivering business and personal banking solutions for medical and dental professionals following the sale to Bank of Queensland (BOQ) last week.


BOQ announced on Friday it would purchase Investec's Professional Finance business – including its deposits business. The agreement follows the appointment of independent advisers by Investec to identify alternatives for the business late last year.

Head of Professional Finance, Barry Lanesman, said the agreement with BOQ provided an exciting opportunity to propel the business to the next phase of growth.

"The businesses are both aligned culturally and there are strong synergies in terms of our approach. By combining our strengths and adding scale we will be able to deliver an even stronger proposition for our clients whilst retaining our focus as specialists in the medical and dental space," Mr Lanesman said. "We remain committed in this area and are able to do things which general financiers are unable to do. We've been doing it for 20-odd years, so we know this market in a deeper way than anyone else."

The Professional Finance business has over 19,000 clients and a loan portfolio of $2.2 billion. Over 80% of current loans are for practice and personal finance to medical, dental and veterinary practitioners.

"Through our strong relationships and long term commitment we have built up an enviable position providing specialist products to our niche clients," Mr Lanesman said. "BOQ recognises the value of this segment and of our team in maintaining our market leading position".

The agreement, subject to regulatory approval, will be finalised in coming months with the Professional Finance business to rebrand under the BOQ umbrella upon completion.

"While our brand may change; our team, our values and our commitment to our clients will remain the same. As a team, we are excited about the opportunity this announcement brings in offering an even stronger service and product proposition to our professional client base".

Stream the latest dental videos...
Expert talk: Freedom in movement

Upcoming Events...

Jun 19 2024
Jun 22 2024
Jul 04 2024
Jul 13 2024
Jul 16 2024
Jul 25 2024
Aug 23 2024
Aug 28 2024
Aug 29 2024

Practical Endodontics Workshop

Sydney, AUSTRALIA

Sep 07 2024
Sep 14 2024
Sep 26 2024
Oct 03 2024
Oct 10 2024
Oct 17 2024

ADOHTA 2024 National Congress

Sydney, AUSTRALIA

Oct 24 2024
Nov 07 2024

Veneers: A Comprehensive Guide

Auckland, NEW ZEALAND

Nov 13 2024
Nov 29 2024
Mar 25 2025

IDS 2025

Cologne, GERMANY

May 08 2025
Apr 17 2026

IDEM Singapore 2026

Singapore, SINGAPORE