Investec CEO Best-Paid in South Africa Amid Lowest Returns

Stephen Koseff, South Africa’s best-paid banker, has made Investec Ltd. the country’s worst-performing bank stock. Investors say he needs to cut costs -- starting with his own compensation.

Koseff’s salary and bonus at the nation’s fifth-biggest bank rose 29 percent last year to 3.4 million pounds ($5.3 million), excluding share awards. Standard Bank Group Ltd., Africa’s largest lender with a market value almost five times that of Investec, paid its CEO, Jacko Maree, 24.7 million rand ($2.9 million).