STEPHEN CRANSTON: Offering an array of choice and stellar returns for all clients
If any part of a bank is guaranteed to sound unwelcoming, it is its wealth division. There is the sense that ordinary citizens need not apply, unless of course they can show a million dollars at the door. The recently appointed head of Standard Bank Wealth, Margaret Nienaber, wants to put a different message across. She has some valuable experience in refreshing a business and building its image. As head of the Santam brand, she overturned the stereotypes about it and convinced the market that you don’t need to wear a safari suit to do business with the insurer. It will not be such a dramatic reboot at Standard Bank Wealth, but there is confusion in its current set-up. You might expect private banking to be part of wealth. But this is just red-carpet retail banking: you might fly business class but you arrive when everybody else does. The private-wealth customers get to charter their own aircraft. Nienaber says that the wealth business doesn’t service only high flyers; all the nonba...
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