CEO Report
Investec integrated annual review and summary financial statements 2021


A sound performance in a challenging year

The past year was among the most turbulent in living history. Shock waves from the global pandemic and efforts to contain it rippled through every facet of our lives, with few among us not directly affected – be it by illness, loss of loved ones or disruption of livelihoods.
It was a year in which inequality, political polarisation and racial injustice were cast into stark relief, testing our prevailing social and economic systems and frequently finding them wanting. But it was also a year marked by scientific triumphs, unprecedented measures by both the private and public sectors to support the vulnerable, and by the courage of those on the front lines in the fight against COVID-19, all reminding us that a more tolerant, equal and just society is indeed possible.
Fani Titi
Chief Executive
“Nature uses disorder to grow stronger. It’s like going to the gym. You get stronger because you subject your body to stressors and gain from them.”
Nassim Nicholas Taleb
As an international company deeply embedded in the communities in which we operate, Investec faced extraordinary circumstances at every turn. I am tremendously proud of the way that my colleagues responded, exemplifying our culture of resourcefulness, resilience and care.
Despite their own personal and family challenges, our people never wavered in delivering matchless levels of service and support to our clients at a time when it was most needed. I am equally proud of the speed with which we were able to draw on our resources and partnerships to assist those in need within our communities. Our response included funds for COVID-19 testing and personal protective equipment, direct support for healthcare workers, and food distribution in some of the hardest-hit areas of South Africa and the UK. We also accelerated the digitalisation of Promaths, our flagship mathematics and science tuition programme, which enabled thousands of South Africa’s least privileged school children to carry on learning remotely despite school closures.
The past year also ushered in significant and far-reaching change within our company. As we navigated successfully through several key strategic milestones, it was critical that we remained true to the values upon which Investec was built and the kind of organisation we wish to be. So we undertook a process of collective reflection with the aim of articulating our purpose as a company. Following dozens of townhall meetings and animated debates involving thousands of colleagues, we arrived at the statement in the opening pages of this report: