Investec’s Stephen Koseff to step down to make way for joint CEOs
Investec CEO Stephen Koseff will be succeeded by joint CEOs Fani Titi and Hendrik du Toit on October 1, the Johannesburg- and London-listed bank said on Tuesday morning. Along with Koseff, the transition will see MD Bernard Kantor and group risk and finance director Glynn Burger handing their roles on. All three will remain on Investec’s board as nonexecutive directors following the transition. The group’s chief operating officer and chief financial officer Kim McFarland will take the role of group finance director, and global head of specialist and private banking Ciaran Whelan will take the role of group risk director. The management reshuffle also sees Titi hand his role as Investec chairman to senior independent nonexecutive director Perry Crosthwaite. "When we joined Investec almost 40 years ago, we aspired to develop a leading financial services group focused on our clients’ needs," Koseff said in the statement. "We are confident that the complementary skills of the new joint ...
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