South African executive Fani Titi earns $9.4-million salary at Investec in 2023

South African executive Fani Titi, the group CEO of Investec, an Anglo-South African international banking and wealth management group, was rewarded with a compensation package amounting to £7.5 million ($9.4 million) for his pivotal role in the group’s financial performance at the end of its 2023 fiscal year.

This compensation package marks an impressive 73-percent increase compared to the previous year’s total reward of £4.33 million ($5.42 million), a leap that closely mirrors Investec’s impressive financial performance at the end of its 2023 fiscal year.

Titi’s compensation package encompasses a base salary of £1.04 million ($1.3 million) and a performance-based short-term incentive of £1.57 million ($1.97 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 businessman at the helm of billion-dollar Investec Group also received a long-term incentive award of £4.80 million ($6.01 million) from the leading financial services group in recognition of his unwavering commitment and extensive expertise as a seasoned financial professional.

Titi is a name that resonates throughout the corridors of Investec Bank Group, a renowned Anglo-South African international banking and wealth management group.

Titi has effectively held the reins as group CEO and executive director of Investec Bank Group since his appointment in March 2020.

Titi’s background brings substantial financial expertise and regulatory reporting skills to the table. Under his leadership as group CEO, Investec’s profits surged from £556.37 million ($696.75 million) at the end of the 2022 fiscal year to an impressive £817.43 million ($1.02 billion) at the close of the 2023 fiscal year.

Beyond his executive and governance responsibilities, Titi holds a minority 0.02-percent stake in Investec, equivalent to 171,399 shares valued at R19 million ($1 million). This and his impressive compensation package make him one of South Africa’s most affluent executives.