Exec Shift: Investec Taps Cumesh Moodliar as New CEO

Investec Bank Limited’s board (the Board), known for its commitment to strategic foresight, has initiated the next phase of its meticulously crafted executive succession plan. This forward-looking approach ensures a seamless transition of leadership roles and responsibilities, positioning the bank for continued success. Richard Wainwright, the current Chief Executive Officer (CEO) of Investec Bank Limited (IBL), will gracefully step down from his role during the course of 2024, as part of the carefully orchestrated transition.

Richard Wainwright, whose tenure has been marked by his dynamic leadership and strategic acumen, will continue contributing to Investec’s journey. He will remain an executive of Investec Limited, lending his insights and experience until his anticipated retirement in 2025. This continuation of his association underscores Investec’s commitment to maintaining a strong foundation while embracing new leadership.

Cumesh Moodliar, a seasoned professional deeply intertwined with Investec’s growth story, is set to take the helm as the next CEO of IBL. Cumesh’s extensive journey within the organization, which began in 2012, showcases his comprehensive understanding of the banking landscape. His roles have ranged from Regional Head of the Private Bank in the Eastern Cape to National Banking Head, Head of the Private Bank, and most recently, the Head of the Private Client Franchise. His ascent to the CEO position is a testament to his exceptional contributions and proven leadership capabilities.

The upcoming transition of leadership is scheduled to take effect on 01 April 2024, marking the commencement of Cumesh Moodliar’s tenure as CEO. With this new role, Cumesh will lead Investec Bank Limited’s strategic initiatives, ensuring the institution remains at the forefront of innovation and continues its legacy of delivering excellence to clients.

The Board’s decision to appoint Cumesh Moodliar aligns with Investec Bank Limited’s policy on director nominations. The selection process, rooted in transparency and rigorous evaluation, reflects the institution’s dedication to upholding the highest standards of corporate governance.