Reporting directly into chief executive, Stuart Cummins, David will assume responsibility for spearheading business development across the company’s jurisdictions in the UK, Jersey, Isle of Man and Dubai. His focus will be on growing the bank’s high-net-worth client base for its wealth planning, investment management and private banking services. David will also join the bank’s executive committee.

David joined Nedbank Private Wealth just over a year ago to lead its investment specialist function and chair its investment committee. Prior to joining, David spent 15 years with RBC Wealth Management where he held several senior roles, latterly leading the investment business as managing director and head of discretionary investments in Jersey. He has over 25 years’ experience in financial services, working for global blue-chip companies in both London and Jersey, and providing investment solutions to a wide variety of clients around the world.

Andrew now heads up the private banking team in the Isle of Man, and will be reporting into David. He has been with Nedbank Private Wealth for 15 years and has a thorough knowledge and understanding of the organisation. With his extensive experience of working with high-net-worth individuals and their families, his focus is ensuring clients are provided with the highest level of service at all times.

Stuart Cummins, chief executive of Nedbank Private Wealth, said: “These are exciting new roles for David and Andrew. The moves form part of a recent restructure designed to enhance our client offering across the organisation.  David will be responsible for all our client-facing teams and our investment and wealth planning specialists. I know David’s track record of successful leadership and business growth across multiple geographies will be invaluable in this role.”

David McFadzean’s new appointment is subject to final regulatory approval.