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Investec reshuffles board ahead of asset management spin off

Business-Corporate-Board-Room-Meeting-Hire-Hiring-700x450.jpgInvestec chief executive Stephen Koseff and managing director Bernard Kantor have stepped down from their respective roles ahead of a proposed demerger of the company.

According to a stock exchange notice Koseff and Kantor will continue to serve on the board as executive directors, where their main task will be assisting joint chief executives of the demerged business, until the process is completed.

Once the demerger is finished, Koseff and Kantor will step down from the board for “an appropriate cooling off period”. After that, they will rejoin the board as non-executive directors.

Profile: Investec AM UK boss on attracting talent and money from the fund industry’s behemoths

Fani Titi and Hendrik du Toit have been serving as joint chief executive designates for the past six months.

Today they were appointed joint chief executives of the Investec Group. Hendrik stepped down as Investec Asset Management chief executive yesterday.

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Old Mutual continues separation as Nedbank splits

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Treasury committee chair warns parents could miss out on pensions

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India budget: BJP focuses on growth

By Kunal Desai, Head of Indian Equities

With markets kept open on Saturday, finance minister Arun Jaitley delivered a promising budget focused on growth and decentralisation. While many complained about a six-day working week, there was much to be pleased about and the markets rallied in the afternoon to finish in the green.

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