NEDBANK GROUP LIMITED - Nedbank Wealth Leadership Changes

Nedbank Wealth Leadership Changes

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 WEALTH LEADERSHIP CHANGES


Following the Old Mutual Group announcement that Dave Macready (56), currently
Managing Executive of Nedbank Wealth, has been appointed as the Chief Executive
of Old Mutual South Africa from 1 May 2015 reporting to Ralph Mupita (Chief
Executive of Old Mutual Emerging Markets), we are pleased to announce that in line
with Nedbank Group's succession planning processes, Iolanda Ruggiero (44) has
been appointed as Managing Executive of Nedbank Wealth. Iolanda will take up this
position with effect from 1 May 2015 and also join the Nedbank Group Exco, subject
to regulatory approval.


Mike Brown, Nedbank Group Chief Executive commented: ‘In the 10 years that Dave
has been in his current role, Nedbank Wealth’s profile, market positioning and
earnings have grown significantly. Dave has now been offered an exciting
opportunity to further his career within the greater Old Mutual Group. I would like to
thank Dave for his substantial contribution to the Nedbank Group and we wish him
every success in his new role.


Nedbank Group is fortunate to have the depth and quality of management to ensure
a seamless handover of Dave’s responsibilities. The appointment of Iolanda ensures
continuity of the Nedbank Wealth strategy, as she has worked very closely with Dave
in her role as Chief Operating Officer of Nedbank Wealth since 2006.’

                                                                                         
Iolanda joined the Nedbank Group in 2002 and has held senior management
positions within Nedcor Investment Bank and Nedbank Retail. In 2006 Iolanda was
appointed as Chief Operating Officer of Nedbank Wealth. Under her direction, the
Insurance, Asset Management and Wealth Management businesses were
amalgamated to create the Nedbank Wealth cluster. Iolanda was also directly
involved in the acquisition of full ownership of BoE Private Clients, Nedgroup Life and
Fairbairn Private Bank which have all been seamlessly integrated into the Wealth
cluster. She is a graduate from the University of Stellenbosch and has completed the
Advanced Management Programme at INSEAD.


Mike Brown
Chief Executive


Sandton
27 March 2015


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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