This year’s winner for best bank for high net-worth (HNW) individuals in Africa, Standard Bank Wealth and Investment, is rewarded for delivering clever tailored solutions to its growing clientele across key African markets.
Amid strong competition in this category, the lender stood out for its impressive 42% growth in headline earnings for HNW clients, who also contributed 52% of total regional assets under management. The longevity of its client relationships is a testament to how well regarded the bank is in this space. Indeed, 60% of HNW clients have been served for 15 years or more.
This is probably because Standard Bank Wealth and Investment continues to respond to client demands for bespoke investment solutions, particularly in alternatives. The bank has been expanding is alternatives offering including hedge fund and private equity fund solutions in response to client appetite for these products.
Standard Bank Wealth and Investment stood out for its impressive 42% growth in headline earnings for HNW clients
In Nigeria for example, Standard Bank introduced a real-estate investment trust (Reit) sponsored by Novare Africa Fund in response to demand for alternative investments from HNW clients seeking high-yield opportunities.
This