The purchases were made through Investec's Swiss Trust Holding Company. Terms were not disclosed and the acquisitions are subject to regulatory approval. Investec said in a press release: 'These acquisitions significantly augment Investec Private Bank’s trust and fiduciary capacity currently undertaken by Guinness Flight Trustees in Guernsey as well as its international private client structuring capabilities.'

RTC was established by Lyddon Simon on behalf of Radcliffes - Solicitors, London in Geneva in 1974 and manages trusts and companies. Following the acquisition, he will Investec Bank UK in London as Chairman of trust activities. He commented: 'This transaction will give re-assurance to staff and clients alike as to the long term stability of the Trust company and continuity of services and ensures a smooth transition from the founding shareholders.' Geneva provides an additional jurisdiction for Investec Bank’s private and corporate clients and allows for the opportunity of expanding its banking activities already established in Zurich.

Theodores was established in 1994 by Robert Clifford and Phillip Burton, its business originating from TGJersey, a firm of English solicitors practising in Jersey since 1973. Theodores has continued to develop its business providing trust, company formation and administration as well as high-end international private client structuring in the Channel Islands, Bahamas and the British Virgin Islands. Mr Clifford and Mr Burton will be joining the executive of Investec’s Trust operations.

Sam Hackner, Global Head of Investec Private Bank, commented: 'These acquisitions add 80 highly qualified and experienced colleagues to Investec Private Bank’s offshore presence, many of whom are lawyers and accountants. These acquisitions by the Private Bank underline our commitment to offer our clients international structuring capabilities as well as lending, investments and fiduciary services and adds over SFr8bn to assets under trusteeship.'