Nedbank Limited announced that Raisibe Morathi has resigned as an executive director on the Nedbank Group and Nedbank Boards with effect from 30 September 2020. She will remain employed by Nedbank until the end of October to ensure an orderly handover. Raisibe has been CFO since September 2009 and is a highly regarded professional, internally and externally. The Boards accept her resignation with regret, but wish her every success in her future career aspirations. In accordance with Nedbank Group's executive succession plan and after a process overseen by a panel of non-executive directors, Mike Davis, currently Group Executive: Balance Sheet Management (BSM) and an existing member of Group Exco has been appointed as CFO-designate with immediate effect, and as the Group's Chief Financial Officer and to the Group's Boards on 1 October 2020. Mike Davis (BCom(Hons), DipAcc, CA(SA), AMP) was appointed as Group Executive of BSM and to the Group Executive Committee on 1 January 2015. He has significant industrywide experience in finance, asset and liability management and capital management, having worked in financial services for over 20 years. Mike is the current deputy-chairperson of the Nedbank CFO Forum and has strong relationships within Nedbank and with shareholders and the broader investment community and has consistently been part of the group's results roadshows and investor engagements.