Standard Bank appoints first black woman CEO for its wealth division

The bank appoints the highly-experienced Peggy-Sue Khumalo.

Standard Bank has appointed Peggy-Sue Khumalo (pictured) as CEO of its wealth division in SA.

The appointment ends Peggy-Sue’s 17-year long career at Investec and makes her the first black woman to head up Standard Bank’s wealth division.

Peggy-Sue, who has been with Investec since the start of her investment career, will join Standard Bank in February 2019. She will be responsible for the South Africa operations of Standard Bank’s wealth business where short- and long-term insurance, asset management, pension-fund operations and fiduciary services are housed.

Peggy-Sue brings with her a wealth of knowledge and institutional experience having served Investec for 17 years, with her career culminating in her appointment as head of public sector and Black Economic Empowerment financing for Investec in 2013.

“Peggy-Sue has distinguished herself as an exceptional industry specialist over many years in the financial services industry. Her knowledge gathered both here and abroad will come to bear as she executes on Standard Bank’s Wealth strategy,” said Margaret Nienaber, the Standard Bank Chief Executive for Wealth, in a statement.

“Wealth Management is a far broader concept today than it ever was, and Standard Bank is well positioned to drive the vast array of wealth management and insurance solutions needed to make a difference in the lives of individuals of any age, and any stage of their life – for themselves, their businesses and their communities.”

Outside of her achievements in the banking industry, Peggy-Sue founded the Peggy-Sue Khumalo Honorary Scholarship in partnership with the then CIDA City Campus, aimed at girls from rural communities.

In May 2011, she was selected as an honorary member of the Wits International Golden Keys Society and works with several charities, including; Little Eden, Seeds of Africa, the Teddy Bear Foundation and the Liliesleaf Trust.