Nedbank Group names Ray Naicker as its new CIO


Ray will succeed current group CIO Fred Swanepoel, who is retiring in June.

Nedbank Group has announced the retirement of Fred Swanepoel, group CIO, who will reach the mandatory retirement age of 60 on 5 May 2023 and retire on 30 June 2023 after more than 26 years at Nedbank, and the subsequent appointment of Ray Naicker, Nedbank Group’s current chief digital officer, who will succeed Fred as CIO and as a member of group exco with effect from 1 July.

This appointment was made in accordance with the Nedbank Group’s executive succession planning process, which included both internal and external searches.

As CIO, Fred has led the group’s Managed Evolution technology programme to reposition Nedbank's technology capability to deliver a simplified, agile, and client-centred IT architecture.

While Ray has more than 20 years of banking experience,18 of those 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 accelerating the group’s digital innovation capabilities under his leadership.

Ray graduated from the University of Natal with a BSc Chemical Engineering, the University of Pretoria with a BEng. (Hons) Technology Management (with distinction), and the University of Natal with an MEng. Engineering Management (with distinction). He has also completed the Gordon Institute of Business Science’s Global Executive Development Programme, Harvard Business School’s Advanced Management Programme, and Stanford Graduate School of Business’s Senior Executive Programme.

Nedbank CEO Mike Brown and the rest of the group executive committee thanked Trevor and Fred for their invaluable contributions to the Nedbank Group and look forward to working with Ray.

“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,” Nedbank’s CEO said.

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