Investec announced to shareholders today that Cumesh Moodliar will be taking over as the Investec Bank CEO in 2024.
The company previously announced that Richard Wainwright would be stepping down from his current role as Investec Bank CEO during the course of 2024.
Today, it said the Board has identified Cumesh Moodliar as the next CEO of Investec Bank, effective from 1 April 2024.
Until then, Wainwright will remain an executive of Investec until his planned retirement in 2025.
Moodliar has been with Investec since 2012 in several roles, including Regional Head of the Private Bank in the Eastern Cape, National Banking Head, Head of the Private Bank and more recently, the Head of the Private Client Franchise.
Moodliar holds a BA, LLB, LLM (Tax) and completed a Programme for Leadership Development (PLD) at Harvard Business School in 2015 and the Archbishop Tutu Fellowship in 2016.
Before joining Investec, he was the managing partner at Goldberg & De Villiers, an established Eastern Cape-based law firm.
Fani Titi remains the Investec group’s CEO, a role he has held since 2018.
Investec is an Anglo-South African international banking and wealth management group that operates in Europe, Southern Africa, and Asia-Pacific.
Investec is dual-listed on the London Stock Exchange and the Johannesburg Stock Exchange.