Cumesh Moodliar has been appointed as the next CEO of Investec Bank.
In a statement yesterday, the firm said its board had begun the next stage of its approved executive succession plan.
It had previously announced that its current CEO, Richard Wainwright, would step down in 2024 and that it was seeking a successor to fill the role.
Cumesh would take the leadership reins on April 1, 2024. Wainwright would at that time remain an executive of Investec Limited until his planned retirement in 2025.
Cumesh has been with Investec since 2012 in a number of 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.
Fani Titi, Investec Group CEO, said, “We are pleased to announce Cumesh Moodliar will take up the role of chief executive officer of Investec Bank Limited on 1 April 2024. Cumesh has been a valued Investec leader since 2012 and has a proven track record of strong leadership and strategic acumen.
“He possesses expertise in fostering growth, operational efficiency, and enabling out of the ordinary client experiences. Under his leadership, the South African Private Bank has grown to be one of the Investec Group’s largest businesses and profit contributors. We wish Cumesh success in his new role.”
Titi thanked Wainwright for his immense contribution and dedication to the Investec Group for nearly 30 years.
BUSINESS REPORT