Investec has announced the appointment of Cumesh Moodliar as the CEO of Investec Bank. Moodliar, who has been with Investec since 2012, will assume the role on April 1, 2024. He is recognized for his leadership and strategic acumen in driving growth and operational efficiency.
- Leadership transition: The appointment comes as Richard Wainwright, the current head of Investec Bank, prepares to step down. Wainwright is set to retire in 2025 but will remain in an executive role during the transition period. The company expressed gratitude for Wainwright’s significant contributions over his nearly 30 years with Investec.
- Moodliar’s experience at Investec: Cumesh Moodliar has held various roles within Investec, including regional head of the private bank in the Eastern Cape, national banking head, and head of the private bank in South Africa. He has played a pivotal role in the growth and success of Investec’s South African Private Bank.
- Qualifications and achievements: Moodliar holds several qualifications, including a BA, LLB, LLM in tax, and has completed leadership development programs at Harvard Business School. He was also a recipient of the Archbishop Tutu Fellowship in 2016. His diverse background and expertise make him well-suited for the CEO position.
- Other leadership changes: Investec has undergone additional leadership changes, including the retirement of Ciaran Whelan, former CEO of Investec’s UK wealth division, who will also step down as an executive director in 2025. The company is undergoing integration with Rathbones, its UK wealth management rival, and is making adjustments to its board members as part of the merger.