Fani Titi, the group CEO of Investec, an Anglo-South African international banking and wealth management group, was rewarded with a compensation package worth £7.5 million ($9.4 million) for his pivotal role in the group’s financial performance at the end of its fiscal year in 2023.
This pay package represents a 73 percent rise over the previous year’s total award of £4.33 million ($5.42 million), a jump that closely follows Investec’s outstanding financial success at the end of its fiscal year in 2023.
Titi’s remuneration is £1.04 million ($1.3 million) with a performance-based short-term bonus of £1.57 million ($1.97 million). The latter is a direct outcome of Investec’s remarkable financial achievements, with profits exceeding the billion-dollar threshold in the fiscal year 2023.
In recognition of his unwavering commitment and extensive expertise as a seasoned financial professional, the leading South African businessman at the helm of billion-dollar Investec Group received a long-term incentive award of £4.80 million ($6.01 million) from the leading financial services group.
Titi is a name that rings through the halls of Investec Bank Group, a well-known Anglo-South African worldwide banking and wealth management conglomerate.
Titi has effectively served as Investec Bank Group’s group CEO and executive director since his appointment in March 2020.
Titi’s background brings significant financial expertise as well as regulatory reporting abilities to the table. Investec’s profits increased from £556.37 million ($696.75 million) at the end of the 2022 fiscal year to an astonishing £817.43 million ($1.02 billion) at the conclusion of the 2023 fiscal year under his leadership as group CEO.
Titi has a 0.02% ownership in Investec, which is worth R19 million ($1 million), in addition to his executive and governance obligations. This, combined with his outstanding salary package, makes him one of South Africa’s wealthiest executives.