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Fairbairn pb rebrands under Nedbank name

An established player in the Island's banking industry is changing its name from today (Thursday 25 Oct).

Fairbairn Private Bank is to take the name of its South African parent and will now be known as Nedbank Private Wealth.

The Douglas operation is 100 per cent owned by Johannesburg-based Nedbank, the fourth largest bank in Africa with plans to expand across the continent and internationally.

Fairbairn subsidiaries include trust concerns in Jersey and Guernsey, which will also be rebranded as part of a corporate move to align businesses worldwide under the Nedbank name.

The bank at St Mary's Court in George Street remains a Manx legal entity, with its own credit rating.

Managing Director of Nedbank Private Wealth Greg Horton says the name change was a logical move after the firm became Fairbairn's sole shareholder three years ago:

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