REG - Investec PLC - Investec Bank Limited: CEO

InvestecAnnouncement

21/08/2023 08:00

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RNS Number : 8467J  Investec PLC  21 August 2023

 Investec Limited                               Investec plc

                                              Incorporated in England and Wales
 Incorporated in the Republic of South Africa
Registration number 3633621

LSE share code: INVP
 Registration number 1925/002833/06

                                              JSE share code: INP
 JSE share code: INL
ISIN: GB00B17BBQ50

                                              LEI: 2138007Z3U5GWDN3MY22
 JSE Hybrid code: INPR

 JSE debt code: INLV

 NSX share code: IVD

 BSE share code: INVESTEC

 ISIN: ZAE000081949

 LEI: 213800CU7SM6O4UWOZ70

 

As part of the dual listed company structure, Investec plc and Investec
Limited notify both the London Stock Exchange and the JSE Limited of matters
which are required to be disclosed under the Disclosure Guidance and
Transparency Rules, and Listing Rules of the Financial Conduct Authority (the
"FCA") and/or the JSE Listings Requirements.

 

Accordingly, we advise of the following:

 

INVESTEC BANK LIMITED - CHANGE TO BOARD COMPOSITION

 

Executive Directors

 

Investec announces, in accordance with Section 6.39 of the JSE Debt Listings
Requirements and receipt of requisite regulatory approvals, the following
changes to the Board of Investec Bank Limited:

 

The Investec Bank Limited Board (the Board) has commenced with the next stage
of its approved executive succession plan. We have previously announced that
Richard Wainwright will step down from his current role of Chief Executive
Officer (CEO) of Investec Bank Limited (IBL) during the course of 2024 and
confirmed that a further announcement would be made once Richard's successor
has been identified.

 

The Board has identified Cumesh Moodliar as the next CEO of IBL.  Cumesh will
be appointed as CEO of IBL on 01 April 2024.  Richard will at that time
remain an executive of Investec Limited until his planned retirement in 2025.

 

Cumesh has been with Investec since 2012 in a number of roles including
Regional Head of the Private Bank in the Eastern Cape, National Banking Head,
Head of the Private Bank and more recently the Head of the Private Client
Franchise.

 

The Board wishes Cumesh well as he transitions into his new role.

 

The appointment of Cumesh was made pursuant to the policy dealing with the
nomination of directors to the Board.

 

 

Johannesburg and London

21 August 2023

 

Sponsor:

Investec Bank Limited

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