Investec names Cumesh Moodliar as new head of banking

21st Aug 2023 09:50

(Sharecast News) - Anglo-South African financial services group Investec has named long-serving banker Cumesh Moodliar as the new chief executive of its banking arm.

Moodliar, who has been with the banking and wealth manager firm since 2012, most recently as the head of the Private Client division, will step into the top seat in April 2024.

He replaces Richard Wainwright, who has been serving as the CEO of Investec Bank since 2016. Wainwright will remain on the board of the parent group, Investec Limited, until he retires in 2025.

Moodliar, who has also served as a regional head of banking during his tenure at the company, holds a degree in law and a masters in tax law, as well as a leadership qualification from Harvard.

Investec's shares were up 0.3% at 440.4p by 1015 in London.