Investec PLC Investec Group Board Executive Director Changes (9107T)
26 March 2019 - 2:00AM
UK Regulatory
TIDMINVP
RNS Number : 9107T
Investec PLC
25 March 2019
Investec Limited Investec plc
Incorporated in the Republic of Incorporated in England and Wales
South Africa Registration number 3633621
Registration number 1925/002833/06 LSE share code: INVP
JSE share code: INL JSE share code: INP
NSX share code: IVD ISIN: GB00B17BBQ50
BSE share code: INVESTEC
ISIN: ZAE000081949
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 the Listing Rules
of the United Kingdom Listing Authority (the "UKLA") and/or the JSE
Listing Requirements.
Accordingly we advise of the following:
Investec ("the Group", comprising of Investec Limited and
Investec plc)
Board changes
Following the Group's announcement on management succession made
in February 2018 and the announcement made on 14 September 2018
with respect to the proposed demerger and listing of Investec Asset
Management ("the Transaction"), the Board wishes to confirm the
following director changes.
Investec Limited and Investec plc Board Executive Director
changes
As previously announced and as part of the Group's orderly
succession plan to move from founding members to the next
generation of leadership, Glynn Burger, Group Risk and Finance
Director, will retire from the Boards on 31 March 2019. The Board
would like to thank Glynn for his exemplary service, dedication and
commitment to the Group since the 1980s.
As of 1 April 2019, Nishlan Samujh, currently the Chief Finance
Officer of the Investec Group will take responsibility for the
Group Finance Director role and will be appointed as an executive
director of the Investec Limited and Investec plc Board.
Ciaran Whelan, who has held various senior positions globally
with the Investec group over the past 30 years, and who is
currently Global Joint Head of the Specialist Bank and Global Head
of Private Banking, will assume Glynn Burger's role as Global Head
of Risk in an acting capacity pending regulatory approval.
Following these changes, the Executive Directors of the Investec
plc and Investec Limited boards will be: Fani Titi and Hendrik du
Toit (Joint-CEOs), Stephen Koseff, Bernard Kantor, Kim McFarland
and Nishlan Samujh. The Board congratulates the new executive team
on their appointments.
Save for the information provided above, there are no further
details required to be disclosed by Rule 9.6.13 of the UK Listing
Rules.
For further information please contact
Investec Investor Relations
investorrelations@investec.com
Tel: +27 (11) 286 7070 or +44 (207) 597 5546
About Investec
Investec is an international specialist bank and asset manager
that provides a diverse range of financial products and services to
a select client base in three principal markets, the UK and Europe,
South Africa and Asia/Australia as well as certain other countries.
The Group was established in 1974 and has approximately 10 100
employees.
Investec focuses on delivering distinctive profitable solutions
for its clients in three core areas of activity namely, Asset
Management, Wealth & Investment and Specialist Banking.
In July 2002 the Investec group implemented a dual listed
company structure with listings on the London and Johannesburg
Stock Exchanges. The combined Group's current market capitalisation
is approximately GBP5.5 billion.
Johannesburg and London
25 March 2019
Sponsor: Investec Bank Limited
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END
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