Investec Group announced that the Board confirms that in order to simplify its structure, Ciaran Whelan and Richard Wainwright will step down as Executive Directors at the annual general meeting to be held on 03 August 2023. This reduces the number of Executive Directors to two, namely, Fani Titi as Chief Executive and Nishlan Samujh as Group Finance Director. Ciaran will continue in an executive role until his planned retirement in 2025.

Ciaran will lead the Investec team that will be part of the Integration Committee of the recently announced combination of Investec Wealth & Investment UK and the Rathbones Group, which remains subject to regulatory and Rathbones shareholder approval. Furthermore and in line with the Board approved non-executive director succession plan, the Board also confirmed that Khumo Shuenyane is reaching nine years of service to the Investec Group. The Board also confirms that Zarina Bassa will step down from the Board at the annual general meeting to be held on 08 August 2024, having reached nine years of service to the Investec Group in November 2023.

The company will confirm Zarina's successor at the conclusion of ongoing selection process.