Money Management

Investec Asset Management appoints joint CEOs to take over in October

John Green and Domenico Ferrini will become joint CEOs of Investec Asset Management, effective Oct. 1, said a spokeswoman.

Effective April 1, they become deputy CEOs of the money management business of Investec. The positions are new.

The changes form part of management succession planning at the wider parent group. Messrs. Green and Ferrini will take over from Hendrik du Toit who becomes joint-CEO designate of Investec April 1, and will become joint-CEO on Oct. 1 alongside Fani Titi, Investec Group board chairman.

CEO Stephen Koseff of Investec Group, and Bernard Kantor, managing director of Investec Group, will step down from their roles Oct. 1. Until March 31, they will continue to serve as executive directors and provide support and advice to the incoming joint CEOs. On April 1 they will become non-executive directors of the firm.

Mr. du Toit will remain CEO of the money management business, which has $141 billion in assets under management, until Sept. 30 to help with the transition.

Mr. Green, global head of client group, and Mr. Ferrini, co-chief investment officer, retain responsibility for their focus areas, added the spokeswoman. Mr. Green is based in South Africa and will continue to travel extensively internationally, and Mr. Ferrini is located in London.

The appointments are subject to regulatory approval.