South Africa | New head for Nedbank Corporate Investment Banking as veteran Brian Kennedy retires

Nedbank's group executive for corporate and investment banking Brian Kennedy will retire on 31 March, 2020, the bank said in a notice to shareholders on Friday.

Kennedy, who will turn 60 next month, has been at Nedbank for more than 24 years. He led the bank's Capital Markets business following the merger with the Bank of England in 2003. Later that year, he was appointed to the group executive committee and mandated to develop 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," the bank said.

Anél Bosman, who has spent 18 years at Nedbank CIB, has been appointed as Kennedy's successor.

"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," the bank said.

Bosman also served as chief financial officer and head of strategy for Nedbank Capital, and eventually chief operating officer. Her most recent position has been as managing executive for Nedbank CIB markets, responsible for trading activities in Nedbank and wholesale funding.

Nedbank has also appointed Dr Terence Sibiya, managing executive of Nedbank Africa Regions to group executive level, effective April 1, 2020. This appointment is subject to regulatory approval. Sibiya was previously the managing executive of client coverage in Nedbank CIB.

Prior to joining Nedbank in 2011, Sibiya was the executive and head of power, infrastructure, construction, oil, gas and renewable energy in the CIB division of Standard Bank Group.

Compiled by Lameez Omarjee