Nairobi, Kenya: October 27th, 2016: Stanbic Bank’s Wealth and Investment division has been named the Best Private Bank in Kenya, for the second year running, at the global private banking awards organized by The Banker & Professional Wealth Management Magazines.
The award which recognizes excellence in wealth management was presented at a ceremony that took place in London last night. Receiving the award, Stanbic Bank Head of Wealth and Investment Anjali Harkoo said the award reaffirms our commitment to offering relevant wealth management solutions that cuts across investment management through to succession planning and generational wealth transfer.
“To be recognized as the Best Private Bank in Kenya for the second year running is no mean feat. This award is a great honor and we owe it to our clients for their continuous belief in us that drives our unwavering commitment to providing first class wealth planning and investment advice through our Wealth and Investment division.” said Ms Harkoo.
“As part of the Standard Bank Group which boasts of a heritage that spans over 150 years and presence in over 20 countries on the continent, we understand the dynamics of these economies and are able offer relevant on and off-shore wealth management solutions across the continent as we drive her growth,” she added.
The banks were judged on the progress they have made in their business/growth strategy and how they were able to boost inflows and profits. They were also evaluated on their client relationship management blueprints as well as how they have adapted portfolio management, asset allocation and product strategies to meet investor’s changing needs and attitude to risk.
A key focus for the Stanbic Bank’s Wealth and Investment division is generational wealth solutions and services for families aimed at creating beneficiary support structures that include asset preservation and the skills necessary to ensure a lasting legacy.
These accolades reflect the Bank’s ability to consistently deliver superior investment returns that outperform benchmarks. These are delivered through, “a sound investment philosophy, an experienced investment team and, a specialist offering that includes stockbroking, fund solutions, and bespoke discretionary managed portfolios through dedicated portfolio manager, Melville Douglas
Stanbic Bank’s Wealth and Investment team prides itself in offering an integrated suite of end-to-end wealth management and bespoke banking solutions to its high-net worth clients and their families. Wealth and Investment has full services offices in Kenya, Nigeria, Ghana, South Africa, Mauritius Jersey and London and using the Group footprint in 20 countries on the Africa continent, can truly offer clients a seamless solution for their on - and offshore wealth management needs.
“According to the latest Knight Frank Wealth Report, the top concern for the UHNWIs’ remains the need to ensure that their wealth successfully transfers to future generations. It is with this in mind that we offer financial solutions that are holistic and tailor-made to meet the specific needs of an individual client and their family, giving them a truly bespoke offering. A good example is the opportunity to attend our Leadership Academies based in London and South Africa; The Junior Leaders’ (10 – 12 years old),
Young Leaders’ (13 – 17 years old), Future Leaders’ (18 – 24 years old) and Woman’s Wealth Academies extended to our clients and their families. These are aimed at equipping families with the necessary financial skills to ensure the successful management and transfer of wealth from generation to generation.” added Ms. Harkoo.
Currently 70% of wealth is lost in the transfer to the second generation and 90% is lost in the transfer to the third generation. The Academies empower and educate the families of the Stanbic bank Wealth and Investment clients on the principles of investing, banking / lending, financial planning, leadership and philanthropy.
Stanbic Bank is a member of Standard Bank Group whose Wealth and Investment division was also recently recognised as the leading Private Bank on the African continent for the 2nd year running at the 25th Annual Private Banker International (PBI) Global Wealth Summit and Awards.