Peggy-Sue Khumalo first black woman to head the Standard Bank wealth unit

Standard Bank announces the appointment of a new chief executive for Wealth South Africa Division

Peggy-Sue Khumalo will be the first black woman to take on the role of chief executive at Standard Bank’s Wealth South Africa Division with effect from 1 February 2019. The wealth unit spans the Standard Bank Group, offering insurance, investment, fiduciary, specialised banking and lending, and multigenerational wealth preservation solutions to high net worth, retail, business and commercial, and corporate clients. 

In the press release, Standard Bank said that Peggy “brings with her a wealth of knowledge and institutional experience.” 

Margaret Nienaber, Standard Bank Chief Executive for Wealth says: 

“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. 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.

“We welcome Peggy-Sue and look forward to working with her as we continue to enable our client’s legacies and dreams.”

Peggy will be reporting into Margaret and Lungisa Fuzile, chief executive of Standard Bank South Africa. 

Prior to her appointment, Peggy served at Investec for 17 years and founded the Peggy-Sue Khumalo Honorary Scholarship in partnership with the then CIDA City Campus, which was aimed at girls from rural communities. 

She was selected as an honorary member of the Wits International Golden Key Society in May 2011 and works with several charities, including Little Eden, Seeds of Africa, the Teddy Bear Foundation and the Liliesleaf Trust

She is also a former Miss South Africa.