New chair from next year

After a break from banking Khoza switches sides and joins Nedbank.

Warren Clewlow will be retiring as chairman of Nedbank Group and Nedbank with effect from the conclusion of the Nedbank Group 2006 annual general meeting to be held on 4 May 2006, as he will have reached the mandatory retirement age.

Reuel Khoza (55) was appointed a non-executive director of Nedbank Group and Nedbank in August 2005 and serves on the group’s board remuneration and credit committees.

His banking experience dates back to 1983 when he was appointed to the advisory board of Standard Bank.

This was followed by his appointment as a non-executive director of Stannic in 1984 and later Standard Bank of SA (appointed 1991) and Standard Bank Group (appointed 1997), where he served until November 2002.

During his chairmanship of Eskom, he worked closely with the treasury team in its liaison and negotiation with global bankers.