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South African executive Nishlan Samujh, the group finance director of Investec, an Anglo-South African international banking and wealth management group, was rewarded with a compensation package amounting to £4.3 million ($5.41 million) for his pivotal role in leading and managing the finance functions of the group throughout its 2023 fiscal year.
This compensation package marks an impressive 147-percent increase compared to the previous year’s total reward of £1.74 million ($2.2 million), a leap that closely mirrors Investec’s impressive financial trajectory over the same period.
Samujh’s compensation package encompasses a base salary of £676,000 ($851,250) and a performance-based short-term incentive of £1.13 million ($1.42 million). The latter directly results from Investec’s outstanding financial accomplishments, with profits surpassing the billion-dollar mark in the 2023 fiscal year.
The leading South African executive also received a long-term incentive award of £2.44 million ($3.07 million) from the leading financial services group. This serves as a recognition of his unwavering commitment to the group and his extensive expertise as a seasoned financial professional.
Samujh boasts a career spanning over two decades, beginning with KPMG Inc. before joining Investec in 2000 as a technical accountant within the financial reporting team.
In 2010, he assumed full responsibility for the finance function in South Africa and eventually ascended to the position of global head of finance for the entire group.
Samujh’s background brings substantial financial expertise and regulatory reporting skills to the table. Under his leadership as CFO, Investec’s profits surged from £556.37 million ($700.6 million) at the end of the 2022 fiscal year to an impressive £817.43 million ($1.03 billion) at the close of the 2023 fiscal year.
Additionally, the group’s total assets experienced substantial growth, increasing from £51.44 billion ($64.77 billion) to £57.18 billion ($64.77 billion), while retained earnings soared from £3.77 billion ($4.75 billion) to £4.55 billion ($5.73 billion) under his guidance.
Beyond his executive and governance responsibilities, Nishlan Samujh holds a substantial 3.13-percent stake in Investec, equivalent to 28,012,710 shares valued at R3.07 billion ($163 million). This positions him as one of South Africa’s most prosperous executives.
