NEDBANK GROUP LIMITED - Nedbank to Create an Integrated Wholesale Business

Nedbank to Create an Integrated  Wholesale Business

NEDBANK GROUP LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 1966/010630/06
JSE share code: NED
NSX share code: NBK
ISIN: ZAE000004875
(“Nedbank Group” or “the group”)




NEDBANK TO CREATE AN INTEGRATED WHOLESALE BUSINESS

Nedbank Group today announced that Nedbank Capital and Corporate will be
integrated into a single client-facing, wholesale business cluster. This newly
formed cluster will offer the full spectrum of wholesale products under one brand
and one leadership team.

Mike Brown, Chief Executive of Nedbank Group noted that, “Both Nedbank
Capital and Nedbank Corporate have excellent reputations for client service and
performance, consistently producing returns on equity of above 20%. Together
the businesses contributed 48% of the group’s headline earnings as at 30 June
2014. Our objective is to create a wholesale business that combines the
respective strengths of Nedbank Capital and Corporate to build a market leading
franchise with an even stronger client-centred focus”.

Brian Kennedy, who has been Managing Executive of Nedbank Capital since its
formation in 2003 will be accountable for the combined wholesale business,
including the implementation of the business structure and operating model with
effect from 1 January 2015. At our interim results we announced that Mfundo
Nkuhlu who was previously Managing Executive of Nedbank Corporate was
appointed as an Executive Director and Chief Operating Officer from 1 January
2015.
Brian has 26 years wholesale banking experience and has been with the group
for 18 years. Brian’s appointment brings insight and continuity to the combined
wholesale business, having been a member of the Group Executive Committee
since 2003. Brian has worked closely with Mfundo and the Nedbank Corporate
team over the years, building strong client relationships and creating unique
customer solutions across Nedbank Capital and Corporate.



Sandton
26 November 2014


Sponsors to Nedbank Group in South Africa:
Merrill Lynch South Africa (Pty) Limited
Nedbank Capital

Sponsor to Nedbank Group in Namibia:
Old Mutual Investment Services (Namibia) (Pty) Ltd

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