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Investec will pay up to £100,000 (R2.02m) to cover the personal security costs of each of its executive directors in SA due to concerns about the country’s rising crime levels.

During the bank’s annual general meeting (AGM) on Thursday, questions were raised by shareholder activist group Just Share on a resolution that sought shareholder approval to amend directors’ remuneration policy so that the cost of personal security for executive directors in SA would no longer be deducted from their fixed pay. The resolution, which was approved by 99.79% of shareholders during the AGM vote, means the security costs of the bank’s SA-based executive directors will now be borne by Investec...

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