Investec Limited and Investec plc announced that as part of the group's orderly succession plan to move from founding members to the next generation of leadership, Stephen Koseff and Bernard Kantor will step down from their roles on 1 October 2018. From that date until 31 March 2019 they will continue to serve as executive directors and be available to provide support and advice to the incoming executives. As from 1 April 2019 they will become non-executive directors.

Glynn Burger, Group Risk and Finance Director, will retire on 31 March 2019. Glynn will become a non-executive director on certain subsidiary and associate boards, and he remains available and willing to assist in any capacity that the new management team require him for. Subject to regulatory approval, the Board announced the following appointments.

Fani Titi who has been a non-executive director on the Investec Group Board since January 2004 and Chairman of the Group since November 2011, and Hendrik du Toit the founding CEO of Investec Asset Management and an Executive Director of the Group since December 2010, will be appointed as CEO Designates on 1 April 2018. On 1 October 2018 they will become Joint CEOs of the group and will be held jointly accountable and responsible for the leadership and management of the Investec Group. Hendrik will remain CEO of Investec Asset Management until 30 September 2018 to ensure an orderly transition in this business.

Kim McFarland, Chief Operating Officer and Chief Financial Officer of Investec Asset Management since December 1993, will take over as Group Finance Director on 1 April 2019. Kim will become an executive director of the Investec Group Board on that date. Kim will continue with her duties as COO and CFO of Investec Asset Management until 31 March 2019 to support an orderly transition in this business.

Ciaran Whelan, who has held various senior positions globally with the Investec group over the past 30 years, and who is currently Global Joint Head of the Specialist Bank and Global Head of Private Banking, will be appointed to the Investec Group Board as an executive director on 1 April 2018. Ciaran will succeed Glynn Burger as Director of Risk on 1 April 2019. Ciaran remains the Global Head of the Private Bank until 31 March 2019.

During the transition period Stephen, Bernard and Glynn will work closely with the new executive designates to ensure a smooth and orderly transition. Subject to regulatory approval, the Board announces the following appointments. Fani Titi will step down as Group Chairman on 31 March 2018.

Perry Crosthwaite, the Investec Group's Senior Independent Non-Executive Director will become Chairman of the Group on 1 April 2018. Perry Crosthwaite was appointed as a non-executive director of the Board in June 2010. Perry Crosthwaite will step down as Chairman of the Remuneration Committee with Philip Hourquebie assuming the position on 1 April 2018.

Philip was appointed as a non-executive director of the Board in August 2017. Zarina Bassa will be appointed as the Group's Senior Independent Non-Executive Director on 1 April 2018. Zarina was appointed as a non-executive director of the Board in November 2014.

Subject to regulatory approval, the Board announces the following appointments. Fani Titi will step down as Chairman of Investec Bank Limited on 1 April 2018, with Khumo Shuenyane assuming this position. Khumo has been a director of Investec Bank Limited since August 2014.

Fani Titi will step down as Chairman of Investec Bank plc on 1 April 2018, with Brian Stevenson assuming this position. Brian has been a director of Investec Bank plc since September 2016. Subject to regulatory approval, the Board announces the following appointments.

John Green and Mimi Ferrini will become Deputy CEOs of Investec Asset Management on 1 April 2018 and from 1 October 2018, Joint CEOs of the business. David van der Walt and Richard Wainwright remain CEOs of Investec Bank plc and Investec Bank Limited, respectively. David van Der Walt will remain Joint Global Head of the Specialist Bank together with Richard Wainwright who will replace Ciaran Whelan in this role as of 1 April 2018.

Steve Elliott remains Global Head of Investec Wealth & Investment. Nishlan Samujh, the current Group CFO, will remain in his role.