Investing in the right things is one of the best ways of dodging poverty in this world. However, the consistent surrounding the investment firms in Kenya discourage those who are willing to invest. Despite the challenges, Dyer & Blair has proven to be among the trusted investment banks in Kenya.
The investment bank deals with different sectors including security investment management, investment banking as well as other financial services. On top of that, it’s regulated by the Capital Market Authority, a body responsible for overseeing investment firms.
The bank was founded in 1954, but who founded it and who is the current owner of the bank? All the information has been highlighted by the JamboDaily contributor.
Who Owns Dyer & Blair Investment Bank
Founder
Dyer & Blair was founded in Nairobi back in 1954 by two stockbrokers at the time, Hickman and Grey. The debut was a success and in that year the bank became one of the founding banks of the Nairobi Stock Exchange which was also established the same year.
Hickman and Grey only ran the bank for two years before selling it to Messrs Derek IngraDyer and Patrick Murdoch Blair. The two gave the bank a new name, naming it after them Dyer and Blair.
In 1973, the Kenya Commercial Bank (KCB) acquired the full ownership of the investment bank, taking over from Dyer & Blair. The aim of the bank was to offer their clients brokerage services.
However, after ten years the bank decided to sell the investment bank that was acting as limited liability company. The bank sold it to the now owner who has managed to run the bank for over three decades now.
Who Owns Dyer & Blair Investment Bank
Dyer and Blair Investment bank is currently owned by a city tycoon by the name of Jimnah Mbaru who later converted the bank to a fully-fledge licensed investment bank in 2004.
Jimnah Mbaru is an veteran businessman who has really invested in investment banking as well as other businesses. According to him, he was born for this and his career in business began while he was still in primary school where he would collect old steel pieces and sell them once they get to a certain target.
Being born, in a humble background where even lacking basic needs was not a big deal. After selling old scrapt metal in primary school , he joined High School where he decided to change his business strategy and instead of selling scrapt metal he began selling snacks to his fellow students and he would later on make profits on the sales .
After graduating with a degree in BCom from the University of Nairobi, he began working as a civil servant where he served in different capacities before moving to private sectors.
After leaving the government job he decided to venture into investment banking since at the time there were very few stockbrokers. He managed to beat all odds to become one of the richest person in Kenya.
Jimnah Mbaru Wealth and Business
Mbaru can be described as a self-made billionare with over 30 billion Ksh in wealth including his high end cars.As per his other businesses much is not known but he was among the shareholder of the Britam hodings but sold the shares for Ksh 900 millions.