Investec picks Prosser and Titi as joint chairmen

Investec has appointed former Legal & General boss Sir David Prosser and private equity tycoon Fani Titi as its next joint chairmen.

The two will take over Hugh Herman who chaired the group for 17 years, seeing it grow from a modest South African financial services outfit to a FTSE 100 multi-national business.

The Investec board said it believed the joint chairmen roles best suited the fact that the company is listed in both London and Johannesburg and has to deal with complicated regulatory environments in both countries.

Prosser, 66, is already Investec's senior independent non-executive director and has been on its board for seven years. He retired from L&G four years ago and is also a director of Epsom Downs Racecourse.