Congratulations to our winners!
Because you didn’t just like it, you swiped your Standard Bank Credit Card and got rewarded a lifetime chance to watch the Boks play in Japan. In addition, you will get to explore the beauty of Japan and tour ancient landmarks and beautiful gardens.
Here are our lucky winners! Hope you’re all packed and #GoodToGo.
Stephen Thomas Ryan Mains-Sheard
Donald David Wheeler
Christiaan Jacobus Coetzee
Warren Michael Ebben
Sinenhlanhla Theodosia Mngomezulu
Mudimeni Isaiah Ramabulana
Bradley Ryan Haynes
Go out and enjoy all that Japan has to offer and then grace the stadium for a VIP match day experience courtesy of Standard Bank and MasterCard.
See you there! Post lots of pictures.
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Just like a masterpiece starts on an empty canvas, and a symphony begins with one small note – every great artist starts somewhere too.
For 35 years, we’ve been invested in the stories and journeys of some of our country’s greatest artists. The people whose pictures have made our walls come alive, and whose lyrics have made our hearts sing for joy.
We believe that art, in any form, has the ability to transform a society. It has the potential to take us places we never dreamed possible. It has power. And like Romera Britto said, “Art is too important not to share.”
It’s why we’ve been involved in initiatives like the Standard Bank Young Artist Awards - acknowledging emerging, young talent in different disciplines and affording them national exposure and acclaim. It’s seen the likes of William Kentridge and South Africa’s first lady of song, Sibongile Khumalo climb the ranks and grace the world stage.
Giving the youth access and a platform to be recognised is something we are very passionate about. Both the Standard Bank National Youth Jazz Band and the Standard Bank National Schools Big Band have afforded many young artists the opportunity to perform with some of the world’s best musicians. Jazz trumpeter and composer, Mandla Mlangeni is proof of this, having had his talent nurtured through both these bands.
It’s not just an opportunity, it could be a life changing one - because while a young musician may walk onto the stage, the next South African legend may walk off it.
The opening night of this year’s Standard Bank Joy of Jazz will host some of the Standard Bank Young Artist alumni who will perform to thousands of South Africans, and the Youth Jazz Band will be performing alongside some amazing acts too.
On Heritage Day, as we celebrate our country’s cultural wealth, our National Schools Big Band will be stepping up onto stage and performing with world-famous, Grammy Award and Pulitzer Prize winner for Music, Wynton Marsalis. He is someone whose talent surpasses the norm. Someone who is at the pinnacle of brilliance. And just like everyone else, also started somewhere.
For us, it’s more than an investment into the arts, it’s a commitment to our youth and our future.
Because art can make the biggest impact. One chord can inspire a chorus, and a single lyric can start a movement. So, if we can change just one artist’s world… play on.
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Please send your query and contact details to [email protected] .One of our consultants will be able to assist you with your query. Alternatively, you can check your balance on your Standard Bank App.
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This year marks the sixth of the competition that annually awards a cash prize to the producers of the top 10 Chenins selected. The stipulation is that the money - R25 000 per winning wine – goes towards a socially sustainable initiative involving wine-farm workers. To date R1,1 million has been spent on social upliftment programmes.
The Standard Bank Chenin Blanc Top 10 Challenge list for 2019 includes (in alphabetical order):
Cederberg Cellars Five Generations 2017
DeMorgenzon Reserve Chenin Blanc 2018
Durbanville Hills Collector's Reserve The Cape Garden Chenin Blanc 2018 (Debut)
Flagstone Winery Tributary Bush Vine Chenin Blanc 2018 (Debut)
Ken Forrester Wines The FMC 2018 (Debut)
Kleine Zalze Family Reserve Chenin Blanc 2018
Kleine Zalze Vineyard Selection Chenin Blanc 2018
Rijk's Cellar Touch of Oak Chenin Blanc 2017
Slanghoek Wynkelder Legends Barrel Fermented Chenin Blanc 2017
Stellenrust The Mothership Chenin Blanc 2018
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The pace and scale of digitisation in the financial services sector continue to accelerate. The high-touch wealth management sector, in particular, is embracing technology in both back-office and front-end functions.
Eric Enslin, CEO at FNB Private Wealth and RMB Private Bank, believes most financial institutions understand the massive opportunities that technology offers to enhance administration, meet rising compliance requirements, inform their wealth management strategies and, importantly, engage with clients in relevant ways.
“Digital technologies reduce friction for both Wealth Managers and clients by offering faster paperless, processes, convenient investment tracking online via the web or an app, and easier access to commoditised products like tax-free accounts.”
Mike Wood, Director at Apio Wealth, agrees that technological advancements have had a substantial impact on efficiency and effectiveness.
“Failure to implement and utilise the many technological resources now available to Wealth Managers will have detrimental consequences for their business. With advanced programmes designed to complete financial needs analyses, estimate estate costs and needs, and project future returns and values has, in my opinion, allowed for one advisor to more efficiently manage and serve a much larger customer base without sacrificing on the quality of advice they offer.”
However, technology's greatest value for Wealth Managers lies in its ability to deliver bespoke, hyper-personalised solutions.
Shaun Kotwal, Head of Wealth and Investment, South Africa for Standard Bank, explains that while many financial services providers embrace digital and platform technologies to offer clients convenience and offload many basic processes or repetitive tasks to the end-user, this functionality doesn't reinforce the wealth management principles that resonate with high-net-worth individuals (HNWI).
“We, therefore, invested significantly to develop relevant solutions across mobile and web, with a focus on how technology can elevate client relationships and interactions, and augment the process to prioritise their unique needs, like aggregating investments to provide a single view of their portfolio, and improve their ability to achieve their goals, such as protect, grow or transfer wealth.”
A HNWI's financial circumstances are also, generally, more complex than those of a retail investor's. “Wealth Managers should, therefore, leverage technology to understand these complexities and structure relevant solutions through personalised scenario planning and forecasting.”
Specifically, technologies such as analytics, artificial intelligence (AI) and machine learning (ML) can analyse big data and segmented client-specific data to construct personas and client profiles that inform customer journey mapping.
“AI helps us find commonalities and uncover insights, while ML provides an overlay to reveal how under-invested clients may be in a sector or spot gaps in portfolio construction. We are then able to model returns and growth and anticipate liabilities, which helps us make clear, informed personalised investment decisions. But rather than disintermediate the Wealth Manager's role, these technologies augment the human advisor-led approach, which helps clients to remove emotions from the decision-making process and instils greater confidence in the proposed approach,” continues Kotwal.
Winston Monale, Head of Absa Wealth Advisory, states that a Wealth Manager's role is primarily to understand a client’s current and future financial needs and help them achieve their investment objectives.
Within Absa Wealth, investment teams already leverage AI and ML to predict returns at an asset class, fund and a stock-specific level. “These key inputs inform asset allocations and portfolio construction. And these technologies will play increasingly pivotal roles as next-gen investment teams implement algorithmic trading programmes.”
Beyond investment management and fund construction, Monale adds that AI is also dispensing advice via rules-based systems.
“While technology is a great enabler and there may be many instances where taking the emotion out of an investment decision may be optimal, wealth management requires a human touch to give clients peace of mind regarding their financial affairs. We, therefore, believe that AI-enabled robo-advisors and humans do not compete, but rather complement one other. If we understand where the synergies lie between humans and machines, we can leverage these technological advancements to enhance what we do for our clients and how we do it.”
Mike Wilmot, Head of Advice and Solutions at Nedbank Private Wealth, believes the emergence of AI-enabled robo-advisors will positively and profoundly change wealth management.
“This technology will broaden market access to investment expertise and advice in a commercially-sustainable way, compared to traditional people-based financial planning and wealth management models. However, robo-advisors will not replace wealth management advisors. Augmented advice or hybrid models will bring to bear the best ideas and services delivered by humans, augmented by tech across many areas of the wealth management value chain, which is extremely exciting for clients, the industry and the economy.”
Tom Elliott, deVere Group's international investment strategist, elaborates that HNW and UHNW individuals, in particular, will always require access to expertise on tax, property, trust law, among others, which are surprisingly subjective and, as such, not amenable to AI.
“Wealth Managers that offer these services may find they are managing client money as a loss-leader, perhaps using their robo-advisors to do so. Wealth Managers unable to offer additional professional services are particularly vulnerable to cheaper AI-driven platforms.”
Reginald Labuschagne, Head of Product and Strategy at Sanlam Private Wealth, agrees that self-service advice works in certain instances, but as complexity increases, technology cannot yet replace expert human interactions.
“Technology eliminates onerous elements from the client engagement and wealth management processes. This creates opportunities to elevate client conversations and improves outcomes to deliver greater value, which is important because clients still want the human element in their engagements, often to assure them that the proposed approach is correct.”
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Investment trends are shifting across the globe. In their quest to deliver risk-adjusted returns in increasingly volatile markets and meet shifting investment preferences among high-net-worth individuals (HNWI), wealth and asset managers are boosting alternative investment allocations.
According to the PWC Asset Management 2020 report, alternative investments, which include hedge funds and hedge fund-like products, private equity funds and real estate, will grow considerably faster and become more significant components within investment portfolios by 2020. The report predicts that alternatives, together with passive investments, will account for 35% of total assets managed by the global asset management industry.
Shaun Kotwal, Head of Wealth and Investment, South Africa for Standard Bank, affirms that alternative investments have become more prolific within local portfolios in recent years.
“While the search for yields has driven this trend globally, the need to diversify largely accounts for the rise in popularity for alternative investments in South Africa as asset managers look for ways to demonstrate alpha.”
Shifting preferences around an investment's potential impact on society or the environment have also grown significantly and have become a prolific driver of environmental, social and governance (ESG) and socially-responsible impact (SRI) investing.
Initially driven by millennial HNWIs and investors, wealth and fund managers embraced this investment approach to build loyalty with this emerging generation.
“This prolific generational cohort generally doesn’t want vanilla offerings. For instance, by investing in passive investments, they could buy the entire market, which can expose environmentally-conscious or socially-responsible investors to companies that may not align with their values or ethics,” explains Kotwal.
As such, wealth and asset managers have embraced this approach to meet shifting client investment preferences, while also establishing themselves as good corporate citizens.
“Creating opportunities to invest in alternatives locally and offshore is core to our vision of being a client-centric organisation. We, therefore, leverage partners that align with client preferences and solve for client needs to ensure these investors can invest in companies and products that are relevant and important to them.”
Importantly, it is now possible to invest in companies that in some way improve the world and yield returns.
“Numerous studies show that investing responsibly in this way does not imply that company profitability and share price performance are necessarily foregone,” states Winston Monale, Head of Absa Wealth Advisory.
“Companies that take the time to consider their impact on the environment and broader society, and the way they operate internally are often successful specifically because they pay attention to these factors, in addition to their financials. Investment managers can direct portfolio flows towards these types of assets, but individual investors can also mandate their investment managers to restrict their investment to a bespoke portfolio that builds heavily on ESG-cognisant companies.”
And in an environment where significant corporate governance issues have emerged among numerous listed companies, this trend increasingly transcends generations.
“We now see a cross-generational drive where it is no longer just millennials pushing ESG investing. Older generations also want to invest in ethical, transparent companies that do good and are making the world a better place,” continues Kotwal.
This, however, isn't always a simple proposition, elaborates deVere Group's international investment strategist, Tom Elliott.
“ESG investing, like other thematic strategies such as demographics and renewable energy, requires a subjective impute to effectively determine which companies offer suitable investment opportunities, which is more complex than many clients first assume.”
For instance, Elliott posits that if a large oil company invests billions of dollars into renewable energy, do ESG investors invest in it, even if it still derives the bulk of its current profits from fossil fuels?
“Once you remove sin sectors such as gambling, guns and alcohol, do you remove retail stores that sell them? For this reason, thematic funds are problematic from a retail client perspective. While an institutional client can work with a large pension fund or insurance company to create a bespoke portfolio that fully aligns with a client’s objectives, a HNW client will more often than not be offered an off-the-shelf fund that may or may not meet their understanding of what the fund invests in. The lesson in this regard is to always look under the bonnet before committing to an ESG approach.”
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Six months into her new role as CE of Standard Bank Wealth SA Peggy-Sue Khumalo shows no signs of being the new girl in class. According to Khumalo, her recent appointment feels quite the contrary. This is the homecoming moment of my career. Arguably the largest wealth management business in Africa spanning asset management, short and long term insurance, and servicing clients from across the spectrum from retail, to high net worth corporate and commercial clients, the scale and scope of Khumalo's stewardship is formidable.
She is undaunted by the assignment and her mission is clear. "Standard Bank has completely transformed and reinvented itself. It is now our responsibility to make sure that transformation and diversity not only happens at the top echelons but is infiltrated throughout the group. The balance sheet must look good at the end of the financial year, but I also have a broader purpose - to make sure that in the South African context we are able to redefine and create wealth in a manner that is inclusive."
This is not unfamiliar terrain for Khumalo, her resume attests to her adeptness at not only taking a seat at the table, but widening the space for all invited. During her tenure at Investec, Khumalo was credited with navigating the bank to new spaces through her unswerving quest to bring in new business "I pounded the pavement to bring in the new and made sure that when black business came through the door, we were able to unlock access to capital for them, particularly public sector and BEE financing."
So while it is evident that Khumalo has the resume and the technical competencies to assume the mantle of leadership in her new position, there are other equally potent factors in her arsenal. Her life, which began in rural Kwa-Zulu Natal, has provided Khumalo with a deep understanding of poverty, inequality and injustice. Long before obtaining her Masters in Economics from Manchester University in the United Kingdom, the University of Life had thoroughly schooled Khumalo on the harsh realities of being a "have-not".
Khumalo is the daughter of a woman who was denied access to education and forced into employment as a farm labourer at the tender age of 14. A woman willing to sacrifice everything to ensure young Peggy-Sue would not endure the same limitations and hardships in life. A woman, who to this day, is both the anchor and the moral compass guiding Khumalo's extraordinary trajectory. Every lesson is firmly embedded in Khumalo's memory bank, "My successes are mirrored by my mum's struggles. I am spiritually guided by the notion that to whom much is given, much is required. I carry that with me every single day." Perhaps, this is where the true seeds of wealth are planted. As she steps out in pursuit of her mission, Khumalo is reminded of the words of Maya Angelou, "I stand as one, but I come as 10,000."
This article first appeared in Lifestyle and Luxury South Africa.
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Hello Steblooi ,
Please restart your device.
Tap to your top right corner (Transact)
Select: Send Instant Money.
Select Manage vouchers.
Select the voucher you would like to reverse and delete and confirm your transaction by using the pin that was shared with the receiver.
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You can create a virtual card, it is a completely digital bank card you can use to shop online and load on the Standard Bank mobile app. It allows you to make payments and purchase online without having to use your credit or debit card details. Please download the Standard Bank App and create your virtual card.
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Yes, you can reverse a debit order at the branch, however, for a more convenient way to do this, you can reverse debit orders for under R200 on your Standard Bank Banking App.
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