Investec Wealth CEO Wragg steps down after 20 years at firm

Will be replaced by COO Ciaran Whelan

Investec Wealth & Investment (IW&I)'s CEO Jonathan Wragg, who has spent more than 20 years at the firm and the last decade in his current role, has stepped down and will be succeeded by Investec's former group chief operating officer Ciaran Whelan.

Whelan and Wragg will be working through a handover period until 30 June. Whelan, who has worked at Investec for more than 30 years, has held positions as group director of risk and global head of the firm's private bank before becoming COO. Whelan currently sits on Investec Group's board as an executive director. Wragg joined Investec in 2005 as finance director after the group acquired a 47% stake in his previous employer Rensburg Sheppards. After five years, Investec acquired the entirety of the firm and he was appointed CEO of IW&I UK. Ninety One management set to increase stak...