Fani Titi and Hendrick Du Toit have been appointed joint chief executives of Investec Group in a succession plan seeing responsibility transferred from its founding members.
Investec Group is dual-headquartered in both London and Johannesburg, reflected in the fact that Du Toit will be based in the UK while Titi will be based in South Africa.
Titi has been group chairman since 2014 and Du Toit has been the chief executive of Investec Asset Management since the company was founded in 1991.
Stephen Koseff chief executive officer of Investec group and Bernard Kantor, managing director, both founding members of the group will step down in October 2018 when they will become executive directors.
Titi will be replaced as chairman of Investec by Perry Crosthwaite, Investec Group’s senior independent non-executive director, in April.
Kim McFarland chief operating officer and chief financial officer of Investec AM since December 1993 will take over as group finance director in April 2019.
John Green and Mimi Ferrini have been named as joint chief executives of Investec AM.
Bernard Kantor, managing director, said: “We believe this plan will ensure a smooth transition and continuity for our shareholders, clients and employees.
“The board and the new executive management team remain committed to growing our three core businesses in our core geographies.”
©2018 funds europe
