A smoother Investec emerges, as ‘bloke from Benoni’ Stephen Koseff bows out
Gone will be Stephen Koseff’s rough-and-tumble way of calling out analysts or journalists, as the bank’s founders make way for new leadership drawn from Investec veterans
Raised in the same industrial town as actor Charlize Theron, Investec CEO Stephen Koseff still retains the edge he picked up as a bloke from Benoni on the east of Johannesburg. Now, after 40 years of jostling with SA’s biggest banks and money managers to build Investec into a business managing more than $215bn in assets, Koseff and Investec’s two other founding members are making way for new leaders. Gone will be the 66-year-old’s rough-and-tumble, straightforward way of calling out analysts or journalists about their latest reports. He isn’t shy of the odd expletive either. Investec, which trades its shares in London and Johannesburg, is going with who it knows by promoting insiders in a massive management shakeup that will split the top job into two. Hendrik du Toit, the founding CEO of Investec Asset Management, whose chiseled features make him look more comfortable in a suit than Koseff, will oversee the business from the UK, while Fani Titi will step down as chairman to take th...
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