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2004  Annual Report  
 
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Corporate information
Board of directors

at February 2005
 
 
Warren Alexander Morten Clewlow (68)

(Non-executive Chairman)

(appointed 2000)
   
   

Business address

Barlow Park, Katherine Street, Sandton, 2199

Qualifications

OMSG, CA (SA), DEcon(hc)

Occupation

Chairman, Barloworld

Warren is Chairman of Nedcor and Nedbank Limited. He is also a non-executive director of Old Mutual plc. He has been Chairman of Barloworld since 1991. He was previously Chairman of the State President’s Economic Advisory Council and Chief Executive of Barloworld and has managed many of its diverse divisions. He is also a non-executive director of Sasol Limited, Rustenburg Wines (Proprietary) Limited, Pretoria Portland Cement and Deputy Chairman of Old Mutual Life Assurance Company (SA) Limited.

Nedcor Board committees

Nedcor and Nedbank Directors’ Affairs Committees (Chairman)

Nedcor Limited ordinary shares

2 849 beneficial indirect

Nedbank Limited preference shares: 0
       
       
Prof Michael Mervyn Katz (60)

(Non-executive
Vice-chairman)
(appointed 1997)
   

 

   

Business address

Edward Nathan (Proprietary) Limited, 4th Floor, The Forum,
2 Maude Street, Sandown, 2196

Qualifications

BCom, LLB, LLM (Harvard Law School), LLD(hc)

Occupation

Corporate Law Adviser and Consultant

Michael is Non-executive Vice-chairman of Nedcor and Nedbank Limited and Chairman of Edward Nathan (Proprietary) Limited. He is also Chairman of the Commission of Inquiry into the Tax System of South Africa and the Tax Advisory Committee, as well as an honorary professor of Company Law at the University of the Witwatersrand.

Nedcor Board committees

Nedcor and Nedbank Risk Committees (Chairman), Group Credit Committee, Group Finance Oversight Committee, Nedcor and Nedbank Directors’ Affairs Committees, Board Strategic Innovation Management Committee (Board Simco), Group Transformation and Sustainability Committee

Nedcor Limited ordinary shares

4 273 beneficial indirect

Nedbank Limited preference shares

475 000 beneficial direct, 105 000 non-beneficial indirect
       
       
Maduke Lot Ndlovu (53)

(Executive Vice-chairman)
(appointed 2001)
   
     
   

Business address

Nedcor Sandton, 135 Rivonia Road, Sandown, 2196

Qualifications

DipLR (Unisa), MAP (Wits), EDP (NorthWestern USA), AMP (Harvard Business School)

Occupation

Vice-chairman, Nedcor Limited and Nedbank Limited

Lot is Vice-chairman of Nedcor and Nedbank Limited. He is Non-executive Chairman of Africa Milestone Investments Limited, Lafarge South Africa (Proprietary) Limited and the Environmental and Infrastructure Development Trust. He is a non-executive director of Nampak Limited, the South African National Roads Agency and the Community Growth Management Company Limited. He is the Deputy Chairman of the Johannesburg University. He is a member/trustee of the Business Trust (job creation), the Multicultural Development Programme (Deloitte & Touche) and St Anthony’s Adult Education Centre. He is a member of the advisory board of the Otis Elevator Company and serves as a commissioner for the Office of the Banking Adjudicator. He is the Patron of Midrand Graduate Institute Milpark Business School.

Nedcor Board committees

Group Credit Committee, Nedcor and Nedbank Risk Committees, Nedcor and Nedbank Directors’ Affairs Committees, Group Transformation and Sustainability Committee

Nedcor Limited ordinary shares

18 299 beneficial indirect

Nedbank Limited preference shares: 0
       
       
Thomas Andrew Boardman (55)

(Chief Executive) (appointed 2002 as
director and 10 December 2003 as
Chief Executive)
   
     
   

Business address

Nedcor Sandton, 135 Rivonia Road, Sandown, 2196

Qualifications

BCom, CA (SA)

Occupation

Chief Executive, Nedcor Limited and Nedbank Limited

Tom is Chief Executive of Nedcor Limited and Nedbank Limited. He was formerly Chief Executive of BoE. Previous directorships include the Banking Council, Boardmans and Sam Newman Limited.
Nedcor

Board committees

Group Credit Committee (member for purposes of the approval of large exposures only)

Nedbank Limited preference shares

85 000 non-beneficial indirect

Nedcor Limited ordinary shares: 0
       
       
Christopher John Watkins Ball
(65)

(Independent non-executive)
(appointed 2002)
   
   

Business address

4 Gardenia Lane, Constantia, 7800

Qualifications

Dip Iuris, MA

Occupation

Director of companies

Chris was previously a director of BoE. He is a non-executive director of Nedcor Limited, Nedbank Limited and Imperial Bank Limited.

Nedcor Board committees

Group Finance Oversight Committee (Chairman), Group Audit Committee, Group Remuneration Committee, Group Credit Committee (Chairman), Nedcor and Nedbank Directors’ Affairs
Committees, Nedcor and Nedbank Risk Committees, Group Transformation and Sustainability Committee

Nedcor Limited ordinary shares

10 000 beneficial direct

Nedbank Limited preference shares

144 300 beneficial direct
       
       
Michael William Thomas Brown
(38)

(Chief Financial Officer)
(appointed 2004)
   
   

Business address

Nedcor Sandton, 135 Rivonia Road, Sandown, 2196

Qualifications

BCom, Dip Acc, CA (SA)

Occupation

Chief Financial Officer

Mike is a commerce graduate from Natal University. He completed his articles with Deloitte & Touche in Durban and qualified as a chartered accountant in 1990. After working in the United
States and England, he joined the NBS Treasury Department in 1993. He then moved to NBS Corporate (later BoE Corporate) and was instrumental in establishing the Specialised Finance and
Private Equity Divisions. Following the merger of NBS Corporate and the commercial and industrial lending division of BoE Private Bank, Mike was appointed Deputy Managing Director of BoE Corporate and then Managing Director of the division in 1999. He was appointed an executive director of BoE Limited in October 2001 and to his previous position as Head of Property Finance following the merger of Nedcor, BoE, NIB and CoGHB.

Nedcor Board committees

Group Credit Committee (member for purposes of the approval of large exposures only)

Nedcor Limited ordinary shares

909 beneficial indirect

Nedbank Limited preference shares: 0
       
       
Richard Gray Cottrell (69)

(Independent non-executive)
(appointed 2002)
   
   

Business address

18 Rivonia Road, Illovo, 2196

Qualifications

CA (SA), FCA, SEP (Stanford)

Occupation

Director of companies

Rick is a director of African Oxygen Limited, Afrox Healthcare Limited,
Glenrand MIB Limited and Imperial Bank Limited. He was previously Executive Officer of the Financial Services Board, Deputy Chairman and Managing Partner Coopers & Lybrand and member of the then Policy Board for Financial Services and Regulation. He is also past President
of The South African Institute of Chartered Accountants.

Nedcor Board committees

Group Audit Committee (Chairman), Nedcor and Nedbank Directors’ Affairs Committees, Group Finance Oversight Committee

Nedcor Limited ordinary shares

523 beneficial direct

Nedbank Limited preference shares

29 363 non-beneficial indirect
       
       
Barry Erskine Davison (59)

(Independent non-executive)
(appointed 2002)
   
   

Business address

14th Floor, 55 Marshall Street, Johannesburg, 2001

Qualifications

BA (Law and Economics)

Occupation

Chairman of Anglo American Platinum Corporation Limited

Barry is Non-executive Chairman of Anglo American Platinum Corporation Limited, an
executive director of Anglo American plc, a director of Anglo American Corporation
of South Africa Limited, Chairman of Anglo American plc Ferrous Metals Division, a non-executive director of Kumba Resources Limited and a non-executive director of Samancor Limited.

Nedcor Board committees

Group Audit Committee, Group Transformation and Sustainability Committee

Nedcor Limited ordinary shares:0

Nedbank Limited preference shares

18 700 beneficial indirect
       
       
Nicholas Dennis (58) (British)

(Independent non-executive)
(appointed 2002)
   
   

Business address

3010 William Nicol Drive, Bryanston, 2191

Qualifications

BCom (Hons)

Occupation

Chief Executive, Tiger Brands Limited

Nick is the Chief Executive of Tiger Brands Limited.

Nedcor Board committees

Nedcor and Nedbank Risk Committees, Board Simco

Nedcor Limited ordinary shares: 0
Nedbank Limited preference shares

47 500 beneficial direct
       
       
Prof Brian de Lacy Figaji (60)

(Independent non-executive)
(appointed 2002)
   
   

Business address

118 Upper Kenridge Avenue, Durbanville, 7550

Qualifications

BSc (Eng), Dip Tertiary Educ, Med, Ded (Coventry University, UK), D Litt(hc) (California State University, Hayward, US)

Occupation

Former Vice-chancellor of the Peninsula Technikon

Brian is the former Principal and Vice-chancellor of the Peninsula Technikon and a member of the Council on Higher Education.

Nedcor Board committees

Group Credit Committee, Group Remuneration Committee, Group Transformation and Sustainability Committee

Nedcor Limited ordinary shares: 0

Nedbank Limited preference shares: 0
       
       
Robert Michael Head (46) (British)

(Non-executive) (appointed 2005)
   
   

Business address

Old Mutual plc, 5th Floor,
Old Mutual Place,
2 Lambeth Hill, London, EC4V 4GG

Qualifications

BA (Oxon), ACA, ACII, FCIB

Occupation

Group Human Resources and Strategy
Director, Old Mutual plc
Bob is a non-executive director of Nedcor Limited, Nedbank Limited and Mutual& Federal.

He joined Old Mutual plc in February 2003. Prior to that he was Chief Executive of smile.co.uk, Finance Director of egg.com (both UK internet banks) and held various directorships.

Nedcor Limited ordinary shares: 0
Nedbank Limited preference shares: 0
       
       
Johannes Bhekumuzi Magwaza (62)

(Independent non-executive)
(appointed 1996)
   
   

Business address

6th Floor, Corporate Place, Gardiner
Street, Durban, 4001

Qualifications

BA, MA (Warwick, UK)

Occupation

Director of companies

JB is a director of Nedcor and Nedbank Limited and was previously Non-executive Chairman of Peoples Bank Limited. He also serves as a non-executive director of Dorbyl Limited and is on the boards of the Development Bank of Southern Africa and Ithala Development Finance Corporation
Limited.

Nedcor Board committees

Group Remuneration Committee (Chairman), Group Audit Committee, Nedcor and Nedbank Directors’ Affairs Committees, Group Transformation and Sustainability Committee (Chairman)

Nedcor Limited ordinary shares

150 beneficial direct

Nedbank Limited preference shares: 0
       
       
Mafika Edmund Mkwanazi (51)

(Independent non-executive)
(appointed 2000)
   
   

Business address

3rd Floor,
28 Harrison Street,
Johannesburg, 2001

Qualifications

BSc (Maths), BSc (Elec Eng)

Occupation

Director of companies

Mafika is a director of Nedcor and Nedbank Limited and was Group Chief Executive of Transnet Limited. Directorships include Freight Logistics International Inc, Transnet Limited and SAA.

Nedcor Board committees

Board Simco (Chairman), Nedcor and Nedbank Directors’ Affairs Committees,
Group Finance Oversight Committee, Group Audit Committee

Nedcor Limited ordinary shares

1 647 beneficial direct

Nedbank Limited preference shares: 0
       
       
Phuthuma Freedom Nhleko (44)

(Non-executive) (appointed 2002)
   
   

Business address

3 Alice Lane, Sandton, 2196

Qualifications

BSc, MBA

Occupation

Group Chief Executive, MTN Group Limited

Phuthuma is the Group Chief Executive of MTN Group Limited, a director of Old Mutual Life Assurance Company (SA) Limited and former Non-executive Chairman and founding member of
Worldwide African Investment Holdings Limited.

Nedcor Limited ordinary shares: 0
Nedbank Limited preference shares: 0
       
       
Julian Victor Frow Roberts (47)

(British)
(Non-executive) (appointed 2001)
   
   

Business address

Old Mutual plc, 5th Floor,
Old Mutual Place,
2 Lambeth Hill, London, EC4V 4GG

Qualifications

BA (Hons) (Stirling), FCA

Occupation

Group Finance Director, Old Mutual plc

Julian is the Group Finance Director of Old Mutual plc. He is also a Fellow of The Institute of Chartered Accountants England and a Member of the Association of Corporate Treasurers. Other directorships include Mutual & Federal Insurance Company Limited, Old Mutual (US) Holdings and King & Shaxton. He was previously the Group Finance Director of Sun Life and Provincial Holdings plc.

Nedcor Board committees

Group Audit Committee, Group Finance Oversight Committee

Nedcor Limited ordinary shares: 0
Nedbank Limited preference shares: 0
       
       
Cedric Michael Langton Savage
(66)

(Independent non-executive)
(appointed 2002)
   
   

Business address

Amanzimnyama Hill, Tongaat, 4400

Qualifications

BSc (Eng), MBA, ISMP (Harvard)

Occupation

Chairman: Tongaat-Hulett Group Limited

Cedric is Non-executive Chairman of the Tongaat-Hulett Group Limited and a director of AECI Limited, Datatec Limited, General Motors South Africa (Proprietary) Limited, Harmony Gold Mining Limited, Hulett Aluminium (Proprietary) Limited and Kumba Resources Limited.

Nedcor Board committees

Board Simco, Nedcor and Nedbank Risk Committees, Group Remuneration Committee

Nedcor Limited ordinary shares

8 452 beneficial direct

Nedbank Limited preference shares

212 700 beneficial indirect
       
       
James Harry Sutcliffe (48)

(British)
(Non-executive) (appointed 2001)
   
   

Business address

Old Mutual plc, 5th Floor,
Old Mutual Place,
2 Lambeth Hill, London, EC4V 4GG

Qualifications

BSc, FIA

Occupation

Chief Executive, Old Mutual plc

Jim is a Fellow of the Institute of Actuaries. He is also Chief Executive of Old Mutual plc. Previously he was Deputy Chairman of Liberty International plc and Chief Executive of Prudential plc’s UK division.

Nedcor Board committees

Group Remuneration Committee, Nedcor and Nedbank Directors’ Affairs Committees

Nedcor Limited ordinary shares: 0
Nedbank Limited preference shares: 0