06 February 2018
ABSIP WELCOMES THE APPOINTMENT OF FANI TITI AS FIRST BLACK CEO OF INVESTEC
JOHANNESBURG, February 6, 2018 – The Association of Black Securities and Investment Professionals (ABSIP) welcomes the appointment of current Investec Board Chairman, Mr Fani Titi, as the first black CEO of Investec (albeit in joint capacity), a leap forward towards a more transformed Group.
Sibongiseni Mbatha, President of ABSIP, says “I hope this decision will set in motion a transition towards a sole black CEO in the short to medium term. Furthermore, I am confident this positive development will strengthen relations with black businesses in the sector and also impel career development of black professionals.”
ABSIP as the custodian of transformation within the financial services sector, challenges Mr Titi to immediately embark on a process of grooming his future successor, now rather than later.
“In line with ABSIP’s Vision 2025, we will continue to work with all stakeholders who commit to being agents of transformation and we regard Investec as an important stakeholder in achieving our mandate. We wish the Investec team and Mr Titi well in his new role commencing in October”, concludes Mbatha.
Established in 1995, the Association of Black Securities and Investment Professionals (ABSIP) is a lead custodian of black professionals’ interests and black business in the financial services sector. Its vision has evolved to pursue a transformed, fully inclusive and ethically run financial sector that equitably represents black professionals and black business to enable sustainable growth for the sector and South Africa at large.
For further information, please contact:
Mr Max Malinga
Executive Manager (Acting)
Tel: 010 203 9015