Standard Bank of SA Ltd

Standard Bank

Standard Bank

The Standard Bank of South Africa Limited is a South African financial services groups and is Africa’s biggest lender by assets. The company’s corporate headquarters, Standard Bank Centre, is situated in Simmonds Street, Johannesburg

Our values

Serving our customers

We do everything in our power to ensure that we provide our customers with the products, services and solutions to suit their needs, provided that everything we do for them is based on sound business principles.


Growing our people

We encourage and help our people to develop to their full potential, and measure our leaders on how well they grow and challenge the people they lead.

Delivering to our shareholders

We understand that we earn the right to exist by providing appropriate long-term returns to our shareholders. We try extremely hard to meet our various targets and deliver on our commitments.

Being proactive

We strive to stay ahead by anticipating rather than reacting, but our actions are always carefully considered.

Working in teams

We, and all aspects of our work, are interdependent. We appreciate that, as teams, we can achieve much greater things than as individuals. We value teams within and across business units, divisions and countries.

Constantly raising the bar

We have confidence in our ability to achieve ambitious goals and we celebrate success, but we must never allow ourselves to become arrogant.

Respecting each other

We have the highest regard for the dignity of all people. We respect each other and what Standard Bank stands for. We recognise that there are corresponding obligations associated with our individual rights.

Upholding the highest levels of integrity

Our entire business model is based on trust and integrity as perceived by our stakeholders, especially our customers

Our Strategy

The ultimate test of the group’s strategy is whether it will enable us to deliver superior ROE and sustainable growth in earnings- either immediately or in the very near future, and whether superior performance will be sustained over the long term. We refreshed our strategy during the year to express this goal more explicitly, and to provide a strategic construct to guide the execution of the group strategy within our business units and enabling functions. Each of them are responsible for ensuring that their plans are aligned with the group strategy and values. 

The rearticulated elements of our strategy encompass the group’s purpose, the factors that underpin our legitimacy, our guiding principles and our vision. All of these elements express our belief that the long-term profitability of our group depends on the stability and wellbeing of our continent, and that our pursuit of profit in a competitive market will lead, in the main, to socially beneficial outcomes. 

Our people and culture will determine our success in executing our strategy. As the foundation of our culture, our legitimacy is vitally important. It stems from our over 150-year heritage and is vested in the relationships we build with our customers, clients, employees, shareholders, regulators and other stakeholders. Our values underpin our legitimacy and are intended to reinforce the trust our stakeholders have in our organisation. 

Our guiding principles are designed to enable us to make well-considered decisions quickly and effectively. They pertain to keeping the promises we make to our clients and the speed, efficiency and thoughtfulness with which we fulfil those promises; the culture of accountability, effective decision-making and social relevance we wish to build; and the way in which we execute our strategy. We are currently rolling out our guiding principles to the organisation, which is involving broad-based consultation on the practical implications of these principles for the way we work. 

Our vision is to be the leading financial services organisation in, for and across Africa, delivering exceptional client experiences and superior value. Africa is our home, we drive her growth, and our vision provides us with a set of primary goals and a standard of excellence that ensures we deliver on our purpose.

Our Code of Ethics

We are a large and diverse business. In order to drive our growth cohesively we have agreed on a number of common guidelines, including our Code of Ethics. Our Code of Ethics provides us with more detail about how our values apply in the workplace, including guidance on their application in specific situations. It is designed to: 

Facilitate greater empowerment and faster decision-making at all levels of our business; and 

Ensure that, as a significant player in the financial services industry, we adhere to the highest standards of responsible business practice in our interactions with all our stakeholders 

Click on one of the below links to read our Code of Ethics. 

Code of Ethics (English) 

Code of Ethics (French) 

Code of Ethics (Portuguese) 

If you believe an employee of Standard Bank has breached our Code of Ethics please contact the Ethics and Fraud Hotline 

All Countries * Email: fraud@kpmg.co.za Fax: +27 12 543 1547 

Country Name Hotline Number 

South Africa 0800 020 600 
International +27 10 249 0100 

* Covers the entire globe: all countries in the above table as well as countries not listed above for example UK, USA, China, Mauritius and DRC. 

Where you’ll find us: Angola; Argentina; Botswana; Brazil; China; Cote d’Ivoire; DRC; Ghana; Hong Kong; Isle of Man; Japan; Jersey; Kenya; Lesotho; Malaysia; Malawi; Mauritius; Mozambique; Namibia; Nigeria; Russia; Singapore; South Africa; Swaziland; Taiwan; Tanzania; Turkey; Uganda; Ukraine; United Arab Emirates; United Kingdom; United States of America; Zambia and Zimbabwe.

STANDARD BANK GROUP STATEMENT ON HUMAN RIGHTS

Africa is our home, we drive her growth

In keeping with our purpose, and our obligations as a responsible financial services firm in, for, and across Africa, Standard Bank Group is committed to respecting the human rights of people involved in and impacted by our business. This statement aims to achieve a consistent approach to respecting human rights across the Group. 

Click the below link to read our human rights statement 

Human Rights Statement

Our People

We encourage and motivate our people to develop to their full potential. 

Our vision recognises that people are our competitive advantage. Consequently ongoing focus is given to building stronger and deeper teams of talented people. We recognise that continual improvement is required in our people management processes to ensure we attract and retain talent. 

Material employee ownership of shares in the bank fosters commitment to excellent performance, enhancing productivity and the nurturing of long-term relationships with customers. 

Our culturally diverse staff reflects the richness and uniqueness of the countries we do business in.

Our Board of directors

Thulani Gcabashe

Chairman and independent non-executive director, SBG and SBSA

Appointed 2003.
Appointed chairman 2015

Qualifications:
BA (Botswana and Swaziland), Master’s degree in urban and regional planning (Ball State)

Skills and experience:
Thulani Gcabashe is a seasoned leader with a breadth of experience gained from roles held in a range of industries. He was the chairman of Imperial Holdings and MTNZakhele. He was chief executive officer of Eskom between 2000 and 2007 and a non-executive director of the National Research Foundation.

Dr Hao Hu

Deputy chairman SBG and non-executive director, SBG and SBSA

Appointed 2017

Qualifications:
Doctorate degree in Economics (Graduate School of Chinese Academy of Social Sciences)

Skills and experience:
Dr Hao Hu is senior executive vice president of the Industrial and Commercial Bank of China (ICBC). His previous positions include, deputy general manager of the Industrial and Commercial Credit Department, deputy general manager of the Credit Management Department, general manager of the Institutional Banking Department, general manager of the International Banking Department, president of Chinese Mercantile Bank and chairman of ICBC Luxembourg S.A.

Jacko Maree

Deputy chairman SBG and non-executive director, SBG and SBSA

Appointed 2016

Qualifications:
BCom (Stellenbosch), BA and MA (Politics and Economics) (Oxford University), PMD (Harvard)

Skills and experience:
Jacko Maree, the group’s deputy chairman alongside Dr Shu Gu, has over 36 years’ experience in banking. From November 1999 to March 2013, he served as chief executive of SBG. He retired from his role as a senior banker focusing on key client relationships in August 2015. He is currently the chairman of Liberty Holdings Limited and Liberty Group Limited.

Arno Daehnke

Group financial director, SBG and executive director, SBSA

Appointed 2016

Qualifications:
BSc, MSc (UCT), PhD (Vienna University of Technology), MBA (Milpark), AMP (Wharton)

Skills and experience:
Dr Arno Daehnke is the group’s financial director and an executive director of SBG and SBSA. He was previously head of SBG’s treasury and capital management function and has extensive experience in key financial aspects such as financial planning under varying macroeconomic scenarios, managing a complex banking group balance sheet in volatile financial markets and a deep understanding of both local and international bank regulatory frameworks.

Geraldine Fraser-Moleketi

Independent non-executive director, SBG and SBSA



Appointed 2016

Qualifications:
Master’s degree in public administration(Pretoria)

Skills and experience:
Geraldine Fraser-Moleketi has experience in leadership and public policy formulation and implementation. Until December 2016, she was the Special Envoy on gender at the African Development Bank based in Côte d’Ivoire. Previously, she was director of the UN Development Programme’s Democratic Governance Group. Between 1994 and 2008, she was a member of the South African parliament and served as the Minister of Public Service and Administration from 1999 – 2008, and as the Minister of Welfare and Population Development from 1996 – 1999.

Gesina (Trix) Kennealy

Independent non-executive director, SBG and SBSA

Appointed 2016

Qualifications:
BCom (Pretoria), BCom (Hons)(UJ), CA (SA)

Skills and experience:
Trix Kennealy has extensive business and financial services experience. From 2009 to 2013, she was the chief financial officer of the South African Revenue Service and prior to that, was the chief operating officer of ABSA Corporate and Business Bank between 2006 and 2008.

Ben Kruger

Executive director, SBG and SBSA

Appointed 2013

Qualifications:
BCom (Hons) (Pretoria), CA (SA), AMP (Harvard)

Skills and experience:
Ben Kruger has over 31 years of experience in banking. He joined the group in 1985, taking up various roles in Standard Corporate Merchant Bank (SCMB). He was appointed chief executive of SCMB in 2001. Between 2006 and 2008, he held the position of chief executive of global Corporate & Investment Banking and assumed the position of deputy group chief executive of SBG in 2009.From March 2013 to September 2017, he was joint group chief executive of SBG alongside Sim Tshabalala. As executive director of SBG and SBSA, Ben Kruger is responsible for the leadership, management and governance of Africa Regions; guiding the continued digitisation of the group; the group’s relationship with its strategic partner ICBC; helping with the management of the Group’s risks; and key client relationships.

Nomgando Matyumza

Independent non-executive director, SBG and SBSA

Appointed 2016

Qualifications:
B Compt (Hons) (Transkei), LLB (Natal), CA (SA)

Skills and experience:
Nomgando Matyumza has experience in diverse business and leadership roles. Between 2004 and 2008, she was the general manager of Eskom Distribution (Eastern Region), and prior to that, she was deputy chief executive at Transnet Pipelines. Her previous directorships include serving as a non-executive director on the boards of Cadiz Limited, Transnet SOC Limited and Ithala Development Finance Corporation.

Kgomotso Moroka

Independent non-executive director, SBG and SBSA

Appointed 2003

Qualifications:
BProc (University of the North), LLB (Wits)

Skills and experience:
Advocate Kgomotso Moroka was a member of the Judicial Services Commission for 15 years. She has played a leadership role across different industries and has served as a non-executive director on boards of blue chip companies. She is currently a trustee of the Nelson Mandela Children’s Fund and the Apartheid Museum.

Martin Oduor-Otieno

Independent non-executive director, SBG and SBSA

Appointed 2016

Qualifications:
BCom (University of Nairobi), Executive MBA (ESAMI/Maastricht Business School), Honorary doctorate of business leadership (KCA University), AMP (Harvard)

Skills and experience:
A fellow of the Kenyan Institute of Bankers, Dr Martin Oduor-Otieno has experience in banking and finance. His 15 years of experience in banking includes having served as the chief executive officer of the Kenya Commercial Bank Group between 2007 and 2012. He was previously a partner at Deloitte East Africa and is a fellow at the Institute of Certified Public Accountants of Kenya. He is an independent business advisor in Kenya.

André Parker

Independent non-executive director, SBG and SBSA

Appointed 2014

Qualifications:
BEcon (Hons), MCom (Stellenbosch)

Skills and experience:
André Parker, a businessman, spent most of his working career of 32 years, with the South African Breweries Limited. He spent the last 10 years prior to his retirement in charge of SABMiller Plc’s Rest of Africa (excluding South Africa) and Asia business portfolio.

Atedo Peterside CON

Independent non-executive director, SBG and SBSA

Appointed 2014

Qualifications:
BSc (economics) (The City University, London), MSc (economics) (London School of Economics and Political Science), Owner/President Management Programme (Harvard)

Skills and experience:
Atedo Peterside, a businessman and banker, was the founder and chief executive of the then Investment Bank and Trust Company Limited (IBTC) from 1989 until 2007, and chairman of Stanbic IBTC Bank Plc (the bank) from 2007 until September 2014. He stepped down as chairman of Stanbic IBTC Holdings Plc at the end of March 2017. Previously, he was the chairman of the committee on Corporate Governance of Public Companies which wrote the first Code of Best Practices for Public Companies operating in Nigeria (published 2003).

Myles Ruck

Independent non-executive director, SBG and SBSA

Appointed 2002

Qualifications:
BBusSc (UCT), PMD (Harvard)

Skills and experience:
Myles Ruck, a banker with extensive background in risk management, spent most of his working career with the Standard Bank Group. He was chief executive of SCMB, deputy chief executive of SBG and chief executive of the Liberty Group until he retired from that position in June 2006. He was chairman of Standard Bank Argentina (now ICBC Argentina) until the group disposed of its majority shareholding.

Peter Sullivan

Independent non-executive director, SBG and SBSA

Appointed 2013

Qualifications:
BSc (physical education) (University of New South Wales)

Skills and experience:
Peter Sullivan, a seasoned banker with experience in banking across Sub-Saharan Africa, prior to his retirement in 2008, held various executive positions, including that of chief executive officer of Standard Chartered Bank Africa and chief executive officer of Standard Chartered Bank (Hong Kong) Limited. Since his retirement, he has been a non-executive director on various boards and has primarily served on audit and remuneration committees.

Sim Tshabalala

Group chief executive, SBG and Executive director, SBSA

Appointed 2013

Qualifications:
BA, LLB (Rhodes), LLM (University of Notre Dame, USA), HDip Tax (Wits), AMP (Harvard)

Skills and experience:
Sim Tshabalala, a banker with over 22 years’ experience in the financial services industry, joined the group in 2000 in the project finance division of Standard Corporate Merchant Bank and was appointed to group exco in 2001. Between 2001 and 2006, he was managing director of Stanbic Africa, and was appointed chief executive of PBB in 2006. In June 2008, he was appointed chief executive of SBSA. In March 2013, he was appointed joint group chief executive of SBG, a position he held alongside Ben Kruger until September 2017. He continues to serve as group chief executive and chief executive, SBSA.

John Vice

Independent non-executive director, SBG and SBSA

Appointed 2016

Qualifications:
BCom (Natal), CTA (Natal), CA (SA)

Skills and experience:
John Vice has extensive experience in IT and audit gained during his 39 years at KPMG, where he was a senior partner and held various IT related roles, including heading the firm’s audit practice, IT audit and IT consulting departments. Prior to joining the board, he was an independent advisor to SBG’s group information technology board committee. He previously served on the board of Zurich Insurance South Africa Limited.

Lubin Wang

Non-executive director, SBG and SBSA

Appointed 2017

Qualifications:
Bachelor’s Degree in Corporate Finance (Fudan University), Master’s Degree in Accounting and Finance (London School of Economics and Political Science)

Skills and experience:
Lubin Wang is the chief representative officer of the ICBC African Representative Office. He has held several positions within ICBC, including deputy manager of the Finance Management Division, senior manager of the Overseas Financial Management Division within the Finance and Accounting Department as well as head of the Accounting and IT Department in the ICBC Sydney Branch.

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