NEW YORK, Nov. 13 /PRNewswire/ -- Investec USA Holdings, part of the
Investec Group (JSE Securities Exchange: INT), today announced that David
Robert Rappaport has joined the company as General Counsel.
    In his new position, Mr. Rappaport is responsible for legal and compliance
services for Investec USA and its US-based divisions, Investec Ernst & Company
and Investec PMG Capital Corp.
    Mr. Rappaport has been practicing law since 1984. For the past ten years
he has been with Gruntal & Co., rising from a line assistant handling
litigation to the role of Senior Vice President and General Counsel. In that
post, he managed the company's legal and compliance departments, including
Capital Markets, Litigation, Regulatory, and Investment Advisory counsels. At
Gruntal Mr. Rappaport played an integral part in the reorganization of the
legal and compliance departments and served as the firm's liaison to industry
regulators.
    As General Counsel, Mr. Rappaport reports to John Murabito, Chief
Executive Officer of Investec Ernst & Co., and Mark Segall, Chief Executive
Officer of Investec PMG Capital.
    "As we further expand the base and breadth of our business - particularly
in the investment banking arena - we feel David has the ideal experience to
help guide us on that path," Mr. Segall said.
    Mr. Murabito added that, "David will play an important role at Investec in
coordinating regulatory and legal issues on a global basis. His expertise will
prove invaluable as Investec USA advances its international business."
    Prior to joining Gruntal, Mr. Rappaport was an Associate at a New York law
firm, specializing in commercial and securities litigation. He spent the first
five years of his legal career as an Assistant District Attorney in Kings
County (Brooklyn, NY). While in law school, he worked at the U.S.
International Trade Commission and the Agency for International Development.
    Mr. Rappaport is a Member of the New York State Bar and was admitted to
the United States District Court. He earned a J.D. from the Washington College
of Law at American University and received a B.A. in International Relations
from Lafayette College.
    In the United States, Investec USA Holdings through its wholly owed
subsidiary Investec Ernst & Company provides domestic and international
securities clearance and settlement, listed and OTC execution services in
securities and options, asset management, investment banking services, retail
research, mutual fund and unit trust advisory services.
    Investec Ernst & Company's Private Client Group through its nearly
400 registered representatives offers a wide range of financial services to
retail, institutional, and professional clients around the world. The Investec
PMG Capital subsidiary is a registered broker / dealer specializing in
corporate finance, asset management, institutional research and sales.
    Investec USA Holdings is part of the Investec Group, an international
specialist-banking group, which provides a wide range of specialized products
and services to a select client base in 15 countries worldwide. The Group is
organized in four principal businesses, namely investment banking, treasury
and finance activities, private client activities, and asset management.
Investec Group Limited is one of the 20 largest companies listed on the
Johannesburg Stock Exchange and ranks among the world's top 400 banks with
total assets under management as of 31 March 2001 exceeding $70 billion
(including on-balance sheet assets of $25 billion).

Link to this page: