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Johannesburg - Grindrod Bank, the specialist financial services company owned by shipping giant Grindrod, has recently become the port of call for several small companies looking for corporate advisory services.
In the last few weeks Fin24.com has noticed a handful of smaller listed companies - including Verimark, Rolfes Technology, Dynamic Technologies and ARB Holdings - switching to Grindrod Bank.
Most companies moved over to Grindrod Bank with immediate effect.
This can't be coincidental, and it seems Grindrod Bank has 'acquired' the services of a number of top staff at PSG Capital.
All four companies mentioned earlier in the article were previously clients of PSG Capital.
Grindrod Bank head of corporate finance Jannie Grobbelaar confirmed the company has strengthened its corporate finance offering by the appointment of a new team.
"Naturally, some clients, with whom the team has had long and personally strong relationships, have opted to follow them to Grindrod Bank."
He said the appointments were part of Grindrod Bank's strategy to enhance the reach and depth of services to the small to mid cap market.
"These people bring a wealth of experience and skills with them".
- Fin24.com