- Investec Bank CEO sells shares as he readies for retirement
- Dowlais CEO snaps up shares with a value just under £500,000
- Beazley non-executive director sells £60,000 worth of shares
Richard Wainwright, CEO of the banking arm of Anglo-South African wealth management and international banking group Investec (INVP), sold two tranches of shares on the 19 June – 110,144 at 459p worth a total of £505,094 and 81,567 at 463p (£377,570).
Wainwright has recently said he will step down as CEO of Investec Bank in 2024. The Investec board said his successor will be found in due course, but he will continue in the executive role until his planned retirement in 2025.
His announcement follows Investec’s results for the year ending 31 March 2023 where it increased its dividend per share by 24%.
Adjusted operating profit was £835 million in 2023 compared to £687 million in 2022.
His sales of shares could be viewed as consolidating his wealth for retirement and cashing in on a positive set of results.
DOWLAIS CEO LIAM BUTTERWORTH SNAPS UP JUST UNDER £500,000 SHARES
Liam Butterworth, CEO of automotive engineer Dowlais (DWL) has bought 410,548 shares at 121p for a total of £496,270 on 21 June.
Butterworth previously served as CEO of GKN Automotive and before that he was chief executive of US automotive firm Delphi Technologies.
In April 2023 Dowlais spun out from the industrial turnaround specialist Melrose (MRO) and is effectively the car engineering part of GKN.
The company’s recent trading update has been pretty solid. Back in April it announced 9% revenue growth at constant currency with margins above 7%.
Dowlais is a highly cash generative business and it generated operating cash of £1.18 billion between 2019 and 2021, as you can uncover in an earlier article by Shares.
BEAZLEY NON EXECUTVE DIRECTOR SELLS 60,000 SHARES
Non-executive director and chair designate of insurance company Beazley (BEZ) Clive Bannister has sold 60,000 shares at 578p for a total of £346,620 on 19 June.
Bannister joined the insurance company from Phoenix Group on the 8 February 2023.
He has held management roles at HSBC (HSBC) where he was chief executive of private banking.
Year-to-date Beazley’ shares have fallen more than 14% to 568p.
