NEDBANK GROUP LIMITED - Nedbank Group executive leadership appointments

Nedbank Group executive leadership appointments

NEDBANK GROUP LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 1966/010630/06
JSE share code: NED
NSX share code: NBK
ISIN: ZAE000004875
(“Nedbank Group” or “the Group”)

NEDBANK GROUP EXECUTIVE LEADERSHIP APPOINTMENTS

Nedbank Group announces that Brian Kennedy (59), Group Managing Executive:
Nedbank Corporate & Investment Banking (CIB), reaches the mandatory retirement
age of 60 next month and retires on 31 March 2020 after more than 24 years at
Nedbank. Brian led the Capital Markets business in Nedbank following the merger
with BoE in 2003 and in November of that year was appointed to the Group
Executive Committee (Group Exco), with the mandate to develop the investment
banking franchise known as Nedbank Capital. During his tenure, Brian has been
actively involved in the design and execution of innovative solutions for top
corporates and parastatals in SA and across Africa as well as attracting top
investment banking talent to Nedbank. He has been instrumental in developing and
driving strategy, culture and new business initiatives as well as overseeing the
merger of Nedbank Capital with Nedbank Corporate in 2015 to create the client
centric integrated investment banking franchise now known as Nedbank CIB.

Following an extensive internal and external process, we are pleased to announce
that Anél Bosman (53) has been appointed to succeed Brian as the Group Managing
Executive: Nedbank CIB and as a member of Group Exco with effect from 1 April
2020, reporting to the Chief Executive, Mike Brown. Anél obtained her BCom
(Econometrics) (Hons) (Cum Laude) from the University of Johannesburg in 1988
and a M.Phil (Economics) from the University of Cambridge in 1990. Anél has had
an 18 year career at Nedbank CIB and its predecessors and this will facilitate a
seamless transition. She started her career at Nedbank as a trader, heading up the
Multi-disciplinary desk and was then appointed as the Head of Risk for Nedbank
Capital from 2005 to 2010.

After a short period as CFO and Head of Strategy for Nedbank Capital, she was
appointed as the Chief Operating Officer for the cluster in 2011. In 2015, Anél was
appointed as Managing Executive for Nedbank CIB Markets, with responsibility for all
trading activities in Nedbank as well as wholesale funding. Over the last five years,
this business has grown earnings consistently, increased market presence by
investing in talent and technology across various asset classes and has established
a strong market franchise.

Given Nedbank’s ongoing focus on growth opportunities on the African continent, Dr
Terence Sibiya (50), Managing Executive: Nedbank Africa Regions, has been
appointed as a member of Group Exco with effect from 1 April 2020 (subject to
regulatory approval) and will report to Chief Executive, Mike Brown. Prior to starting
his current role in 2018, Terence was the Managing Executive: Client Coverage in
Nedbank CIB. Before joining Nedbank in 2011, Terence was the Executive and
Head of Power, Infrastructure, Construction, Oil, Gas & Renewable Energy in the
Corporate and Investment Banking Division of the Standard Bank Group.

Terence holds a B.Sc (Information and Decision Systems) from Carnegie Mellon
University in Pittsburgh, USA; Masters and Doctoral degrees in Instructional Systems
Design and Information Technology from the University of Pittsburgh in the USA; as
well as an Advanced Management Programme qualification from Duke University.

Mike Brown, Chief Executive, and the rest of the Group Exco wish to thank Brian for
his valuable contribution to Nedbank Group, and look forward to working with Anél
and Terence.

Sandton
21 February 2020

Sponsors to Nedbank Group in South Africa:
Merrill Lynch South Africa (Pty) Limited
Nedbank CIB
Sponsor to Nedbank Group in Namibia:
Old Mutual Investment Services (Namibia) (Pty) Ltd

Date: 21-02-2020 12:00:00
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