View more on these topics

Investec co-founders to step down in August

Investec has confirmed that co-founders Stephen Koseff and Bernard Kantor will be leaving the firm in August.

As part of succession plans announced last year, Investec says in an update today that Koseff and Kantor will not seek re-election to the board and will accordingly step down as executive directors with effect from 08 August 2019 – the day of the group’s annual general meetings.

The pair have been with the group since the 1980s, with Koseff serving as chief executive officer and Kantor as managing director.

As part of the firm’s five-man founding team, they successful listed Investec on the London Stock Exchange in 2002.

Investec’s update reads: “The board would like to thank Stephen and Bernard for their exemplary service, dedication and commitment to the Group since the 1980s.”

The asset manager has also announced a number of changes to its non-executive director ranks. Fourteen-year veteran Cheryl Carolus, who has most recently sat on Investec’s social and ethics committee, is also not seeking re-election, and will step down on the same day as Koseff and Kantor.

Legal and General Assurance Society chair Henrietta Baldock will join the board risk and capital committee, and Shingai Group chief executive and Philisiwe Sibiya will be appointed to the firm’s audit committee and board risk and capital committee on 9 August.

Recommended

Aim-listed adviser eyes trio of acquisitions on growth trail

Aim-listed advice and discretionary management firm Harwood Wealth is close to scoring another three acquisitions, it has revealed. Harwood currently has ‘heads of terms’ signed with a trio of firms, and says there “continues to be no shortage of opportunity”. Harwood’s results read: “Whilst we face competition from other acquirers of IFA businesses, we do […]

Business-General-Handshake-Hire-Appointment-700x450.jpg

JP Morgan poaches Blackrock multi-asset strategist

JP Morgan has hired Hugh Gimber as a global market strategist for the firm’s EMEA Market Insights team – a support programme for financial advisers to make investment decision. Gimber will deliver market and economic insights to financial advisers and institutional investors across the UK and Europe. Market Insights reaches “thousands of financial professionals across the […]

Low angle view of the main facades of the Bank of England and London Stock Exchange and the London Troops memorial at Bank Junction in the City of London. London.
4

US regulator could become next Bank of England chief

Former US Commodity Futures Trading Commission chairman Christopher Giancarlo may be eyeing up the top job at the Bank of England, according to reports. With incumbent governor Mark Carney’s term due to come to an end at the beginning of 2020 after an extension to support a smooth Brexit process, potential candidates are lining up […]

3

FSCS tallies up £11m increase in Sipp claims

The Financial Services Compensation Scheme saw an £11m increase in Sipp related claims in the 2018/19 financial year, the lifeboat fund has revealed today. The FSCS paid out £123m in Sipp-related compensation, out of a total of £157m in claims against life and pensions intermediaries. The jump in Sipp claims was large enough to offset […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers. Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com