After a 38-year innings that included a restructuring exercise and, more recently, dealing with credit impairments and market volatility, Stephen Koseff has laid a solid foundation for Investec's new leadership to build on. On Thursday Koseff gave his final results presentation as the group's CEO - he will step down in October. Hendrik du Toit and Fani Titi will succeed him, and will focus on investing in digitisation. "On the digital front we are up to speed and we'll continue to focus on our core client base. There are new entrants that could come into our space, but so be it," Koseff said in response to a question about fierce competition in the South African banking sector. "We continue to grow and develop, and we're not scared of competition." To improve the efficiency of their services and reduce costs, the big four banks have all invested heavily in IT systems such as robotics, artificial intelligence and other technology. As more nimble banks are on the rise, Investec does n...
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