STEPHEN CRANSTON: Investec’s Stephen Koseff did it his way
Like Frank Sinatra before him, Investec’s longtime CEO, Stephen Koseff, is on a farewell tour, and like Sinatra it is hard to believe it is the final curtain
Like Frank Sinatra before him, Investec’s longtime CEO, Stephen Koseff, is on a farewell tour, and like Sinatra it is hard to believe it is the final curtain. He isn’t going until at least July in any case, perhaps later if the Investec Asset Management unbundling is delayed. The authorities may then force him to come off the Investec board for a "cooling-off period" before he rejoins as a nonexecutive. I managed to see Koseff in his favourite coffee shop, Migali in Oaklands, without his usual overpaid PR minders. He usually does the first two meetings of the day at Migali to get away from these hangers-on, and now that he has stepped down as CEO it has become his de facto office. Koseff says he won’t follow his old friend and client Brian Joffe and set up a new listed holding company. But he is on the board of Bidcorp as well as the Bud Group, Investec’s partly owned private equity shop. He also plans to devote time to the Youth Employment Service. He is well aware that corporates ...
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