In pursuit of further long-term strategic growth Investec, today, announced three changes to its Group Executive Team. In 2019 the group embarked on a journey to clarify its strategy, simplify the business, and position itself for long-term growth. The changes are aimed at creating a leadership cohort that will support the company through its next phase of growth.
“Over the past three years we have concentrated our efforts on creating a simplified and focused business. We are now confident that Investec is well placed to pursue disciplined growth in the long term via greater integration across our deep specialisations,” said Fani Titi, Investec Group Chief Executive. “To realise this ambition, it is essential that we continue to ensure appropriate and meaningful succession across our global leadership team.”
The following leadership changes will take effect from 1 October 2022:
- Barbara-Ann King will become the new CEO of Investec Wealth & Investment UK business and will join the Group Executive Team. King takes over from Ciaran Whelan, who took on the role in April 2020 in order to reposition and better integrate the UK Wealth business into the Group. King joined as CCO of that business in October 2020 and has formed a strong partnership with Whelan, evolving the business profile and setting it on a path for growth. King’s appointment is subject to regulatory approval.
- This change means that the two most senior leadership positions in the UK are both held by women, for the first time in Investec’s history – Ruth Leas was appointed as CEO of Investec Bank plc in 2019. Whelan will continue as MD of Investec plc and remain a member of the Investec Wealth & Investment Board and of the Group Executive Team.
- Lesley-Anne Gatter, currently head of People & Organisation (P&O) in South Africa, will replace Marc Kahn as Global Head of P&O and join the Group Executive Team to steward the group’s people strategy across the globe. Gatter and King’s appointments increases female representation on the Group Executive Team to 21% (previously 9%) further reflecting Investec's commitment to belonging, inclusion and diversity.
- Marc Kahn will remain on the Group Executive Team and will fill the newly created role of Chief Strategy Officer, where he’ll be responsible for ensuring that the group’s strategy is effectively implemented. Furthermore, Kahn will continue to chair the group’s Executive Environment, Social and Governance (ESG) Committee.
“Investec is extremely fortunate to enjoy such a deep and strong complement of leaders, who are passionate about what we can achieve. We are delighted to have made all these new appointments from within the business, and would also like to acknowledge the immense contribution made by those who are changing roles,” added Titi. “This is a very exciting time for the business and I am confident that Investec is well positioned to seize the opportunities ahead.”
Commenting on her appointment, Barbara-Ann King said, “I am proud to lead Investec Wealth & Investment together with such a talented team, which has built strong foundations due to its Out of the Ordinary commitment to clients. Our continued focus on building sustainable value through world-class service and truly diverse people, our innovative thinking and appreciation of our role and duty in society, places us in good stead to be a trusted partner to this next generation to inherit, protect and grow their wealth.”