Draft:RMB - Rand Merchant Bank

RMB (Rand Merchant Bank) is a South African financial services business with advisory, funding, trading, transactional banking, and principal investing solutions.

RMB has clients in the UK, India, the US, China and Africa.

It is a division of FirstRand, a large financial services conglomerate, which trades on the Johannesburg Securities Exchange (JSE) under the symbol: FSR. RMB represents FirstRand's activities in the corporate and investment banking segment.

History
Rand Merchant Bank was founded in 1977 by Gerrit Ferreira, Lauritz Dippenaar, and Pat Goss. They started a financial structuring house in Johannesburg called Rand Consolidated Investments (RCI). After Pat left the business, Paul Harris joined. In 1985 the lending and financing business merged with Johann Rupert's Rand Merchant Bank. The newly created entity took up the Rand Merchant Bank name.

Presence
South Africa, Namibia, Botswana and Nigeria operate as RMB, while Zambia, Mozambique, Eswatini, Lesotho, and Ghana operate as FNBCIB.

USA
RMB has a broker-dealer business in the USA and manages FirstRand Bank's USA representative office in New York as of 2023.

India
FirstRand Bank established a branch in India in 2009 as a scheduled commercial bank licensed under the Reserve Bank of India (RBI) and the Securities and Exchange Board of India (SEBI). After license reviews, RMB Capital India Private Limited (RMB India) was established in 2022.