NED
NED
Nedbank Group - Retirement of senior executive
NEDBANK GROUP LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 1966/010630/06
JSE share code: NED
ISIN: ZAE000004875
("Nedbank Group" or "the group")
RETIREMENT OF SENIOR EXECUTIVE
Nedbank Group announces that Derek Muller, director in the chief executive"s
office and a member of the group executive committee, will be retiring during
2007.
In a banking career spanning 31 years, Muller (54) has been with Nedbank for 21
years and has held senior positions in corporate, international and retail
banking.
Chief executive Tom Boardman said: "Derek will be exploring opportunities
outside the banking environment, including extensive involvement in community
and church activities. He will be joining the board of trustees of the Nedbank
Foundation with effect from January 2007 and we are also looking at
opportunities to utilise his vast experience in a part-time consultancy
capacity."
Boardman said Muller has played a key role in the Nedbank turnaround and during
the past two years has been responsible for the group"s non-core asset disposal
programme, driving the implementation of the Financial Sector Charter in the
bank, coordinating the BEE ownership transaction in 2005, as well as serving as
a director on the Banking Association and the Charter Council. He has been
instrumental in establishing a new unit focused on the financing of low-income
housing projects.
"We wish Derek much success and fulfillment in his new endeavours, and look
forward to continuing our relationship," said Boardman.
Sandton
20 November 2006
Sponsors
Merrill Lynch South Africa (Pty) Limited
Nedbank Capital
Date: 20/11/2006 03:00:06 PM Produced by the JSE SENS Department
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
