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Standard Bank wins award for educating next generation in wealth management
09 June 2017
5 rating

Awards 2017

 

Standard Bank has been joint named ‘Outstanding Private Bank for Next Generation Proposition’ at the 2017 Private Banker International Conference & Awards.

The global event, held on 8 June in London, formed part of a major private banking conference organised by financial publication, Private Banker International.

Standard Bank, joint winner with BNP Paribas, overcame the likes of fellow finalists Credit Suisse and REYL & Cie to claim the prestigious award, which celebrates an institution that effectively engages in educating the next generation on financial markets and wealth. 

The award specifically recognises the bank’s innovative Leadership Academies, developed, organised and run by the Wealth and Investment division.

The Leadership Academies were introduced after research showed that 70% of family wealth is lost by the second generation and 90% by the third and aims to empower and educate families on the principles of investing, banking, financial planning, leadership and philanthropy.

The academies, are available to the families of clients of Wealth and Investment and are run in London covering ages 10-24 and sit alongside a recently introduced Women’s Wealth Academy, which focuses on how to raise a financially fit family.

Martin Parry, Head – International Wealth and Investment, said: “As an international bank, we are always moving forward and recognise the need to remain relevant to the aspirations and lifestyles of Millennials. We are thrilled that these educational initiatives have been recognised as it embodies our ethos of ‘banking the family,’ who will be well equipped to manage their personal wealth and play their part in Africa’s future growth. We are expanding our programme across the Africa and look forward to academies in both Kenya and Nigeria in due course”

Standard Bank Wealth and Investment has over 2,700 clients typically with a connection to Africa and potential for investable assets of US$1m and above. The bank’s exclusive African focus makes it best placed to understand the needs of its client base and prevalent issues in African countries which may affect their financial plans. 

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