Investec has announced that Henrietta Baldock will succeed Philip Hourquebie as Group Chair with effect from 6 August 2026, in a leadership transition that also sees Nkululeko Sowazi lined up to chair Investec Bank Limited. The changes were disclosed by the dual-listed banking and wealth group on 21 May 2026.
Hourquebie will step down from the boards on 6 August 2026 after reaching nine years' tenure as a director. Baldock will take on the Group Chair position on the same date.
BALDOCK TO ASSUME GROUP CHAIR
Baldock, until now the Senior Independent Director, takes the role as part of what Investec called its orderly board succession planning and ongoing board refresh. The group said her appointment "provides continuity of Board leadership as the Group continues to implement its strategy of disciplined growth".
Hourquebie will also step down as Chair of Investec Bank Limited.
The group set out the changes in a 'Directorate change' regulatory announcement on 21 May 2026, the same day it published results for the year to 31 March 2026.
SOWAZI JOINS AND WILL CHAIR THE BANK
Nkululeko Sowazi will become independent non-executive Chair of Investec Bank Limited from 6 August 2026. He joins the board as an independent non-executive director with immediate effect; Investec described him as an experienced business leader with extensive investment management, private equity and listed company board experience.
Alongside the chair changes, Investec said Stephen Koseff will not stand for re-election at the annual general meetings on 6 August 2026; the board thanked him for his leadership and commitment over more than four decades. Koseff re-joined the board as a non-executive director in September 2020, having served as Group Chief Executive Officer from 1996 until 1 October 2018.
The board said it intends to make further non-executive appointments in due course.
Bank news that matters, every weekday.
Follow The Global Banker on LinkedIn