Investec Wealth and Investment’s chief executive Jonathan Wragg is stepping down after more than 20 years at the company and a decade at the helm.
The firm announced today (April 27) Mr Wragg would retire from the CEO position and be replaced by Ciaran Whelan, previously group chief operating officer.
Mr Wragg and Mr Whelan are set to work together through a handover period until June 30.
Mr Wragg’s career with Investec began in 2005 when he served as a finance director at Rensburg Sheppards, partly owned by Investec. The firm was wholly acquired by Investec in 2010, when Mr Wragg was appointed CEO of Investec Wealth and Investment.
Mr Whelan held various senior positions globally within the Investec Group over the past 30 years. Prior to his role as group COO, he served as group director of risk and global head of the private bank.
He also sits on the Investec board as an executive director.
Fani Titi, group chief executive of Investec, said: “We wish to thank Jonathan for his dedication and commitment to Investec Wealth and Investment, a business whose name and reputation stand strong in our industry.
“We appreciate the work Jonathan has done in helping build the franchise, which has benefited from his calm and meticulous approach.”
Mr Titi said Mr Whelan would bring more than three decades of experience in the organisation to the CEO role.
He added: “We give Mr Whelan, in his new role, all of our encouragement and support.”
imogen.tew@ft.com
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