Investec: The new okes in Koseff’s chair
Founding fathers take a back seat to two new CEOs, but they don’t expect the firm’s culture to change
Stephen Koseff has, at 66, called time on his nearly 40-year tenure as CEO of Investec. He says he and long-time MD Bernard Kantor, who turns 69 this year, would rather step back while they still have energy and drive. "I’m going from the front of the bus to the back of the bus. When they don’t drive fast enough I will push them," Koseff, who comes from Benoni, tells the Financial Mail. "I’ve still got a lot to do at Investec, I just won’t be the CEO." Indeed, Koseff’s larger-than-life personality will not let him stray far from the bank he has been instrumental in building from just eight employees in 1980 to more than 8,000 today — with assets of nearly R2.7trillion. "We’re going nowhere," he says, referring to himself and Kantor. Joint CEO designates Fani Titi and Hendrik du Toit — group chairman and head of Investec Asset Management respectively — will need to stand their ground. Koseff says they will do this easily enough. "People can question and challenge me. I have no proble...
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