Standard Bank Wealth and Investment recognized as Africa’s Best Private Bank

Standard Bank Wealth and Investment has been named Africa’s Most Outstanding Private Bank for the second year running by Private Banker International. Private Banker International is a leading journal for the global wealth industry. The award was announced at the 26th Private Banker International Global Wealth Summit and Awards, held in Singapore on 14 October.

Winning this award for the second year in a row, and being highly commended for the Most Outstanding Relationship Manager Training and Development Programme, acknowledges Standard Bank’s commitment in building Africa’s most globally relevant wealth management offering.

In accepting the awards on behalf of the bank, Ben Mensah, Head of Wealth and Investment, Ghana states that “It is our belief that Standard Bank Wealth and Investment’s combination of targeted service strategies, relevant management models and client-centricity sets the Bank apart as the continent’s leading wealth manager. And we are delighted to see these efforts reflected in these awards.”

Standard Bank Wealth and Investment has a presence throughout South Africa as well as Kenya, Nigeria, Ghana, Mauritius, Jersey and London. This footprint, combined with the Standard Bank Group’s 154-year heritage and presence in 20 countries in sub-Saharan Africa, empowers Standard Bank Wealth and Investment with the international diversification necessary to provide a seamless on-and offshore offering to its clients.

“We leverage our footprint to provide global wealth solutions that are locally relevant in Africa,” says Margaret Nienaber, Global Head of Standard Bank Wealth and Investment. “With our on-the-ground expertise we understand specific country nuances and their impact on the markets in which we operate. This positions us to support the wealth management ambitions of high net worth individuals and families across the continent.”

The Private Banker International Award follows Standard Bank Wealth and Investment’s receipt of Euromoney magazine’s Africa’s Best Bank for Wealth Management Award for Excellence in July.

These accolades reflect the Bank’s ability to consistently deliver superior investment returns that outperform benchmarks. These are delivered through, “a sound investment philosophy, an experienced investment team and, a specialist offering that includes stockbroking, fund solutions, and bespoke discretionary managed portfolios through dedicated portfolio manager, Melville Douglas,” explains Nienaber.

Mrs Nienaber continues, “A key focus for Standard Bank Wealth and Investment is our generational wealth solutions and services for families. We focus on creating beneficiary support structures that include asset preservation and the skills necessary to ensure a lasting legacy. Africa is after all, our home, and we place considerable emphasis on driving Her growth.”

The issue of generational wealth transfer was identified as the number one concern of high net worth individuals globally, according to the Knight Frank Wealth Report 2016.

“Further emphasis is placed on equipping the leaders of tomorrow with financial and investment advice through Standard Bank Wealth and Investment’s Leadership Academies. These Academies, held throughout South Africa and London, and attended by delegates from across the continent, are aimed at educating the next generation on creating, managing, growing and preserving wealth in an interactive and engaging learning environment,” explains Ms Nienaber.

The Private Banker International Awards are recognised as the most credible in the industry, voted by the industry for the industry. Commenting on this year’s awards, Meghna Mukerjee, Editor of Private Banker International said: “These are challenging and changing times for the private banking industry: from squeezed margins to shifting customer behaviour to demanding regulatory requirements. These awards recognise those institutions that are best adjusting to the “new normal” at this pivotal time in its evolution. Innovation, flexibility and reliability are the watchwords for best-in-class wealth businesses.”