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Naicker named Nedbank CIO, as Swanepoel retires

Samuel Mungadze
By Samuel Mungadze, Africa editor
Johannesburg, 21 Feb 2023
Ray Naicker, Nedbank
Ray Naicker, Nedbank

Nedbank has appointed current chief digital officer Ray Naicker (46) as chief information officer (CIO) and a member of the group executive committee with effect from July.

The bank announced the appointment today, as it informed shareholders that current CIO Fred Swanepoel will retire on 30 June after more than 26 years with the bank.

As CIO, Swanepoel led the group’s managed evolution technology programme, to reposition Nedbank’s technology capability to deliver “a simplified, agile and client-centred IT architecture”, says the bank.

Today, Nedbank informed shareholders Swanepoel will reach the mandatory retirement age of 60 on 5 May, and then retire, paving the way for Naicker to take over, in line with the Nedbank Group’s executive succession planning process.

“Ray has more than 20 years’ banking experience, of which 18 have been at Nedbank Group, where he held various strategic business and IT positions, including playing a key role in formulating Nedbank Group’s technology strategy, and under his leadership accelerating the group’s digital innovation capabilities.”

Fred Swanepoel has retired as Nedbank CIO.
Fred Swanepoel has retired as Nedbank CIO.

Naicker holds a BSc Chemical Engineering degree from the University of Natal, a BEng (Hons) Technology Management (with distinction) degree from the University of Pretoria and an MEng Engineering Management (with distinction) degree from the University of Pretoria.

He also completed the Global Executive Development Programme at the Gordon Institute of Business Science, the Advanced Management Programme at Harvard Business School and the Senior Executive Programme at Stanford Graduate School of Business.

Meanwhile, Nedbank also announced the departure of Trevor Adams, group chief risk officer (CRO), who has also reached the mandatory retirement age of 60 and will retire at the end of March.

Adams, a Nedbank veteran with more than 26 years at the bank, has been CRO since 2014, and before that he was managing executive of balance sheet management for five years.

David Crewe-Brown (54) is set to succeed Adams, says the bank, informing shareholders his appointment as CRO will take effect from April.

Crewe-Brown is currently chief finance and operating officer for Nedbank Retail & Business Banking (RBB). The bank says he has significant industrywide experience in finance, operations, credit, capital management and regulatory reporting, having worked in financial services for over 28 years.

“Dave is well known to shareholders as a result of his participation in RBB’s investor engagements over the past 10 years.”

Crewe-Brown is a Chartered Accountant CA (SA) and has also completed the Advanced Management Programme at Duke University.

“The appointment of experienced and skilled leaders such as Dave and Ray is evidence of Nedbank Group’s deep and high-quality pipeline of internal talent, and our effective succession planning processes that will allow for seamless handovers in these important roles during the next few months,” comments Mike Brown, Nedbank CEO.