Four executives at Investec earned an average salary of nearly R95 million.
The Investec Group CEO, Fani Titi, has received a huge pay increase for the 2023 financial year.
Given the rand’s weakness, Investec’s Directors, who are paid in Pound Sterling, earn considerably more than they would have a few years prior.£4.3 million to £7.5 million .This makes Titi the highest-paid CEO of a company involved in banking services, far ahead of the R62.09 million paid to second-placed Capitec CEO Gerrie Fourie.
However, soon to be departing, Investec Bank CEO Richard Wainwright saw his remuneration decline by £20,000 – still above £2.1 million . Investec’s website said that the group employs 8,500 staff across its operations between South Africa and the UK, with the average employee in the group thus earning R2.7 million per year.
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