Jacko Maree, Chief Executive of Standard Bank Group, has been named by the Financial Times as one of the 50 emerging market business leaders who have helped shape the economic performance in their respective region.
The Financial Times, one of the world's leading financial publications, has identified 50 emerging market business leaders from a host of emerging market economies, a large number of whom are from BRIC countries - Brazil, Russia, India and China.
Jacko shares top spot in South Africa with three other prominent business leaders: Cyril Ramaphosa, Executive Chairman, Shanduka Group; Phuthuma Nhleko, Chief Executive, MTN; and Graham MacKay, Chief Executive, SAB Millar. Another prominent African leader is Nigerian Central Bank Governor Lamido Sanusi.
In its article, the Financial Times had this to say: "Standard Bank has a long history of investment in Africa, but under the stewardship of Jacko Maree, a South Africa who is its 54-year-old chief executive, the group has become an emerging markets leader. Mr Maree was closely involved in negotiating the $5.5bn sale of a 20% stake in the bank to the Industrial and Commercial Bank of China (ICBC) in 2007."
“In 2009, he oversaw the purchase by Standard Bank of a third of Troika Dialog, one of Russia's largest investment banks. Both deals will enhance the bank's ability to expand its trade finance, project finance and other corporate business in African markets. The ICBC transaction represents one of the largest Chinese investments in the continent."
The Financial Times said that the BRIC countries and other emerging market economies have powered ahead economically over the past decade, marking a distinct shift in global power.
"Brics could together outstrip the world's existing six biggest economies by 2039 and China might overtake the US by 2041," said the Financial Times.