Nedbank Group Management

Management criteria checks 4/4

Nedbank Group's CEO is Mike Thomas Brown, appointed in Mar 2010, has a tenure of 14.08 years. total yearly compensation is ZAR46.42M, comprised of 18.5% salary and 81.5% bonuses, including company stock and options. directly owns 0.21% of the company’s shares, worth $10.89M. The average tenure of the management team and the board of directors is 4 years and 6.8 years respectively.

Key information

Mike Thomas Brown

Chief executive officer

R46.4m

Total compensation

CEO salary percentage	18.5%
CEO tenure	14.1yrs
CEO ownership	0.2%
Management average tenure	4yrs
Board average tenure	6.8yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Mike Thomas Brown's remuneration changed compared to Nedbank Group's earnings?
Date	Total Compensation	Salary	Company Earnings
Dec 31 2023	R46m	R9m	R15b
Sep 30 2023	n/a	n/a	R15b
Jun 30 2023	n/a	n/a	R15b
Mar 31 2023	n/a	n/a	R15b
Dec 31 2022	R44m	R8m	R14b
Sep 30 2022	n/a	n/a	R14b
Jun 30 2022	n/a	n/a	R13b
Mar 31 2022	n/a	n/a	R12b
Dec 31 2021	R39m	R8m	R11b
Sep 30 2021	n/a	n/a	R9b
Jun 30 2021	n/a	n/a	R7b
Mar 31 2021	n/a	n/a	R5b
Dec 31 2020	R43m	R8m	R3b
Sep 30 2020	n/a	n/a	R5b
Jun 30 2020	n/a	n/a	R7b
Mar 31 2020	n/a	n/a	R9b
Dec 31 2019	R36m	R8m	R12b
Sep 30 2019	n/a	n/a	R13b
Jun 30 2019	n/a	n/a	R14b
Mar 31 2019	n/a	n/a	R13b
Dec 31 2018	R41m	R7m	R13b
Sep 30 2018	n/a	n/a	R13b
Jun 30 2018	n/a	n/a	R13b
Mar 31 2018	n/a	n/a	R12b
Dec 31 2017	R36m	R7m	R12b

Compensation vs Market: Mike's total compensation ($USD2.44M) is below average for companies of similar size in the US market ($USD8.28M).

Compensation vs Earnings: Mike's compensation has been consistent with company performance over the past year.

CEO

Mike Thomas Brown (56 yo)

14.1yrs

Tenure

R46,419,000

Compensation

Mr. Michael William Thomas Brown, also known as Mike, BCom, Dip Acc, CA (SA), AMP, serves as the Chief Executive and Executive Director of Nedbank Corporate. Mr. Brown has been the Chief Executive Officer...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Michael Thomas Brown	Chief Executive & Executive Director	14.1yrs	R46.42m	0.21% ZAR 10.9m
Michael Davis	CFO, Debt Officer & Director	3.5yrs	R30.30m	0.070% ZAR 3.7m
Mfundo Nkuhlu	COO & Director	9.3yrs	R31.91m	0.071% ZAR 3.7m
Ray Naicker	Chief Information Officer	less than a year	no data	no data
Alfred Visagie	Executive Head of Investor Relations	no data	no data	no data
Daleen Toit	Group Chief Compliance Officer	1.9yrs	no data	no data
Khensani Nobanda	Group Executive for Group Marketing & Corporate Affairs	no data	no data	no data
Deborah Fuller	Group Executive for Human Resources	5.8yrs	no data	no data
David Mcfadzean	Head of Wealth Management	4yrs	no data	no data
Andrew Halsall	Head of Private Banking - Isle of Man	4yrs	no data	no data
David Crewe-Brown	Group Chief Risk Officer	less than a year	no data	no data
Jackie Katzin	Company Secretary	5.3yrs	no data	no data

4.0yrs

Average Tenure

52yo

Average Age

Experienced Management: NDBK.Y's management team is considered experienced (4 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Michael Thomas Brown	Chief Executive & Executive Director	19.8yrs	R46.42m	0.21% ZAR 10.9m
Michael Davis	CFO, Debt Officer & Director	3.5yrs	R30.30m	0.070% ZAR 3.7m
Mfundo Nkuhlu	COO & Director	9.3yrs	R31.91m	0.071% ZAR 3.7m
Phumzile Langeni	Independent Non-Executive Director	2.1yrs	R1.24m	no data
Robert Gordon Leith	Independent Non-Executive Director	5.3yrs	R1.56m	no data
Hubert Brody	Lead Independent Director	6.8yrs	R2.08m	0.0019% ZAR 99.5k
Errol Kruger	Independent Non-Executive Director	7.7yrs	R2.38m	no data
Brian Dames	Non-Executive Director	9.8yrs	R1.50m	0.000010% ZAR 529.3
Neo Dongwana	Independent Non-Executive Director	6.8yrs	R1.41m	no data
Stanley Subramoney	Independent Non-Executive Director	8.6yrs	R2.21m	0.00050% ZAR 26.5k
Linda Makalima	Independent Non-Executive Director	6.8yrs	R1.73m	no data
Aaron Mminele	Independent Non-Executive Chairman	less than a year	R4.02m	no data

6.8yrs

Average Tenure

56.5yo

Average Age

Experienced Board: NDBK.Y's board of directors are considered experienced (6.8 years average tenure).

Nedbank Group Management

Management criteria checks 4/4

Key information

Recent management updates

Nedbank Group and Nedbank Announces Changes to the Boards and Board Committees

Nedbank Group Limited and Nedbank Limited Appoints Terence Mncedisi Nombembe as an Independent Non-Executive Director and Member of Nedbank Group Audit Committee, Effective 1 January 2024

Nedbank Limited and Nedbank Group Limited Announce Executive Changes, Effective 31 May 2024

Nedbank Group Limited Announces Changes to Board Committees

Nedbank Group Limited and Nedbank Limited Announce Resignation of Mteto Nyati as Independent Non-Executive Director, Effective on October 9, 2023

Nedbank Group and Nedbank Announce Board Changes

Recent updates

Nedbank Group and Nedbank Announces Changes to the Boards and Board Committees

Nedbank Group Limited Declares Final Dividend for the Year Ended 31 December 2023, Payable on 15 April 2024

Nedbank Group Limited and Nedbank Limited Appoints Terence Mncedisi Nombembe as an Independent Non-Executive Director and Member of Nedbank Group Audit Committee, Effective 1 January 2024

Nedbank Limited and Nedbank Group Limited Announce Executive Changes, Effective 31 May 2024

Nedbank Group Limited Announces Changes to Board Committees

Nedbank Group Limited and Nedbank Limited Announce Resignation of Mteto Nyati as Independent Non-Executive Director, Effective on October 9, 2023

Nedbank Group Limited to Report First Half, 2024 Results on Aug 06, 2024

Nedbank Group Limited Declares an Interim Dividend on Ordinary Share, Payable on September 11, 2023

Nedbank Group and Nedbank Announce Board Changes

Nedbank Group Limited Announces Resignation of Tshilidzi Marwala as an Independent Non-Executive Director and Therefore as A Member of the Group It Committee, Group Climate Resilience Committee, and Group Transformation, Social and Ethics Committee

Nedbank Group Limited, Annual General Meeting, Jun 02, 2023

Nedbank Group Limited to Report Fiscal Year 2022 Results on Mar 07, 2023

An unknown buyer acquired an unknown stake in Nedbank Group Limited (JSE:NED) from Ninety One SA Proprietary Limited.

Mteto Nyati Joins Nedbank Board

An unknown buyer acquired 5.4% stake in Nedbank Group Limited (JSE:NED) from The Goldman Sachs Group, Inc. (NYSE:GS).

Nedbank Appoints Phumzile Langeni as Independent Non-Executive Director

GIC Pte. Ltd. acquired a 5.01% stake in Nedbank Group Limited (JSE:NED).

Nedbank Group Limited Announces Group Chief Financial Officer Changes

Nedbank Group Limited to Report Fiscal Year 2021 Final Results on Apr 21, 2022

Nedbank Group Limited, Annual General Meeting, May 27, 2022

Nedbank Group Limited to Report Fiscal Year 2021 Results on Mar 09, 2022

Nedbank Group Limited Revises Earnings Guidance for the Six-Month Period Ended 30 June 2021

Nedbank Group Limited to Report First Half, 2021 Results on Aug 17, 2021

Vassi Naidoo to Be Taking Leave of Absence as Independent Chairman of Nedbank Group Limited and Nedbank Limited

Nedbank Limited and Nedbank Group Limited Appoints Mike Davis as Debt Officer

Nedbank Group Limited to Report First Half, 2020 Results on Aug 26, 2020

CEO Compensation Analysis

CEO

Tenure

Compensation

Leadership Team

Average Tenure

Average Age

Board Members

Average Tenure

Average Age