Picture this: a company launched in 1974 with a market cap now topping R100 billion in 2025. That’s Investec, and the investec founders—Ian and Bernard Kantor, alongside Larry Nestadt, Errol Grolman, and Stephen Koseff—turned a modest South African leasing outfit into a global banking titan. These five didn’t just stumble into success. They forged it through grit, bold moves, and a knack for collaboration that professionals today can learn from. This isn’t your average rags-to-riches tale—it’s a masterclass in building something enduring.
I’m here to unpack their story. Not just who they were, but how they did it—and what you can take away to elevate your own ventures. Let’s explore the roots of Investec, the brothers at its heart, and the strategies that propelled them to the top.
The Investec Founders’ Humble Beginnings
It started small. In Johannesburg, between 1974 and 1980, Ian Kantor rallied a crew of financial mavericks. He’d come from Lease Plan International, armed with a BSc in Electrical Engineering and an MBA from the University of Cape Town. His brother Bernard, an accountant by training, joined in 1978. Larry Nestadt and Errol Grolman, both small-town guys—Benoni and Potchefstroom respectively—brought local savvy. Stephen Koseff, another Benoni native, hopped on in 1980, just as Investec snagged its banking license.
They weren’t city slickers. Ian and Bernard hailed from the Free State before moving to Pretoria. None of them grew up in Johannesburg’s economic buzz, yet they converged there with a shared vision. Ian’s connections sparked the flame. He linked up with Larry and Errol, forming Investors, Technical and Executors—Investec’s first iteration. By 1988, they’d listed on the JSE. Four years later, they cracked the UK market. That’s not luck—that’s strategy.
What’s the takeaway? Start where you stand. You don’t need a posh postcode or insider status. The investec founders leveraged their outsider perspectives—small-town roots fueled their hunger. Find your crew, use your network, and plant your flag wherever opportunity lies.
Brothers in Arms—Collaboration Over Conflict
Ian and Bernard Kantor weren’t carbon copies. Ian was the thinker—well-read, measured, a former IBM employee who taught finance at Wits. Bernard? A self-described “deal-doer,” quick on the trigger, less about boardrooms and more about action. They clashed. A lot. But here’s the genius: they turned friction into fuel.
Bernard shared with BizNews how their boardroom battles shaped Investec’s culture. Every founder had veto power. Disagree? Fine—veto it. But then you had to talk it out, understand the “why,” and find consensus. “You can do anything as long as it’s unanimous,” Bernard said. That rule forced clarity. It built trust. It made them sharper.
For you, this is gold. Conflict isn’t the enemy—silence is. If your team’s nodding along without debate, you’re coasting toward mediocrity. Institute a veto rule: anyone can halt a decision, but they must justify it. Watch how fast your discussions deepen. Consensus isn’t compromise—it’s alignment. The Kantors proved it.
Scaling Globally—Lessons from the UK Push
By 1992, Investec wasn’t just a South African story. They entered the UK, acquiring Allied Trust Bank. Bernard moved to London in 1997, growing a tiny team of 50 into a powerhouse through eight acquisitions in a decade. In 2002, they dual-listed on the London and Johannesburg exchanges—a first for a South African firm. Fast forward to 2020: their asset management arm split off as Ninety One, and in 2023, Rathbones bought their UK wealth business for £839 million.
How’d they pull it off? Patience and persistence. Bernard once called Stephen Koseff from London Bridge, frustrated: “No one cares about a small South African bank.” Koseff’s reply? “Be patient—it’ll come.” It did. They didn’t barge in—they built credibility, step by step.
Your move: think global, act local. Expansion isn’t about splashing cash—it’s about earning trust in new markets. Research your target region relentlessly—culture, competitors, gaps. Start small, like Bernard’s 50-person crew, and scale through smart buys or partnerships. Patience pays bigger than bravado.
Leadership Transitions—Know When to Step Back
Ian and Bernard didn’t cling to power. Ian led as CEO until 1984, chaired the holding company until 2002, then stayed a non-executive director until 2020—45 years total. Post-CEO, he moved to the Netherlands, building Bank Insinger de Beaufort. Bernard ran Investec’s UK arm as managing director until 2018, then stepped away entirely. “I’m not cut out for board meetings,” he said. “I build.”
Their exits weren’t failures—they were strategic. Ian shifted to a new challenge; Bernard left room for fresh leadership. Investec thrived, hitting that R100 billion market cap in 2025.
Here’s your action step: plan your succession now. Don’t wait for burnout or a crisis. Identify your strengths—like Bernard’s pioneering spirit—and pass the baton when you’ve maxed them out. Train your replacement early. A strong legacy isn’t about staying forever—it’s about leaving something that lasts.
Culture as Competitive Edge
Investec’s zebra logo isn’t just quirky branding. Stephen Koseff explained it: a leopard’s a loner, but a zebra’s a community animal, black-and-white stripes reflecting South Africa’s complexity. That ethos—teamwork, clarity, purpose—drove their growth. They didn’t just chase profit; they aimed to matter—to clients, staff, society.
Build your culture deliberately. Define what your business stands for beyond revenue. Is it innovation? Trust? Impact? Rally your team around it. Test every decision against it. A strong culture isn’t a perk—it’s your edge when markets get tough.
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The Investec Founders’ Lasting Echo
The investec founders—Ian, Bernard, Larry, Errol, and Stephen—didn’t just create a bank. They built a R100 billion empire from scratch, proving that vision, collaboration, and calculated risk can rewrite the rules. Today, Investec stands as a titan in private banking and wealth management, spanning continents. Their story isn’t over; it’s a blueprint. Take their lessons—start small, debate fiercely, scale smart, exit wisely—and carve your own path. What’s your first move?
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