Distinction for Standard Bank’s Portfolio Managers Standard Bank’s Chris Stead, Head of Portfolio Management and James Hibbs, Portfolio Manager, have achieved distinction in the Private Client Investment Advice & Management (PCIAM) examination. Mr Stead and Mr Hibbs undertook the examination in preparation for the introduction of The Financial Services Authority’s Retail Distribution Review (RDR) which came into effect on the 31st December 2012.
PCIAM is a qualification covering all aspects of private client advice in the areas of securities, investment, compliance, derivatives and operations and surpasses the step-change requirement of a benchmark qualification as set out in the Financial Services Authority’s RDR Consultation Paper.
Deon de Klerk, Standard Bank’s Head of International Private Clients said: “Standard Bank prides itself on the quality of its people, and our commitment to continuous learning and development is testament to our belief in this strategy, our people and our clients. Chris and James’ notable achievement is a credit to each of them, as well as to the Bank, and we congratulate them in coming in the top 4% of this examination paper”.
Standard Bank’s employees who advise or deal in securities, derivatives or packaged products have all achieved, or are in the process of achieving, accreditation to become fully compliant and able to bridge any gaps between the current and the new RDR and RFA standards. Standard Bank Group Standard Bank Group is the largest African bank by assets and earnings. Our strategy is to build the leading African financial services organisation using all our competitive advantages to the full. We will focus on delivering superior sustainable shareholder value by serving the needs of our customers through first-class, on-the-ground operations in chosen countries in Africa. We will also connect other selected emerging markets to Africa and to each other, applying our sector expertise, particularly in natural resources, globally. We operate in 18 countries on the African continent, including South Africa, and 12 countries outside Africa with an emerging market focus.
Standard Bank has a 150-year history in South Africa and started building a franchise outside southern Africa in the early 1990s. In recent years, Standard Bank has concluded key acquisitions on the African continent in Kenya and Nigeria. Africa is at our core and we will continue to build first-class on-the-ground banks. The group’s 52 000 employees in all regions deliver a complete range of services across personal and business banking, corporate and investment banking and wealth management. Standard Bank's Corporate & Investment Banking division offers its clients banking, trading, investment, risk management and advisory services to connect selected emerging markets to Africa and to each other.
It has specific global sectoral expertise, particularly in natural resources, with value propositions in: mining and metals; oil and gas; power and infrastructure; and telecoms and media. Normalised headline earnings for 2011 were R13,6 billion ($1.9 billion) and total assets were over R1 497 billion (approximately $185 billion). Standard Bank’s market capitalisation at 31 December 2011 was R157 billion (approximately $19 billion).
The group’s largest shareholder is Industrial and Commercial Bank of China (ICBC), the world’s largest bank, with a 20,1% shareholding. In addition, Standard Bank Group and ICBC share a strategic partnership that facilitates trade and deal flow between Africa, China and select emerging markets. Standard Bank Private Clients Standard Bank’s International Private Clients division offers its clients private banking and wealth management services which connect selected emerging markets to Africa and to each other.
With teams based in London, Jersey, Isle of Man and Mauritius plus our domestic teams based in East, West and Southern Africa, we can deliver a truly international experience to meet our clients’ financial planning needs. For further information visit: www.standardbank.com/private clients