FNB wins the award for Africa’s best private bank for ultra-high net-worth this year. The pan-African lender’s distinctive offering for the super wealthy demonstrates its ability to serve these clients.
The bank has made considerable efforts to expand inhouse capabilities for UHNW individuals, albeit with a focus on the South African market, where the majority of its UHNW clients are based.
It doubled its accredited private advisers and increased the number of wealth managers by 50%.
FNB also created UHNW assembly days as a platform to provide feedback on client requirements and what it can offer for succession planning.
FNB launched an investment institute to support portfolio construction for bespoke solutions and promoting FirstRand as an investment destination.
The judging panel was impressed by several case studies in which FNB demonstrated recent innovations on the product side
And in July 2023, it held the first wealth series event via its new client-facing thought-leadership platform, covering themes such as environmental, social and governance, artificial intelligence and other market trends.
FNB also launched a fiduciary institute in August 2023 to deliver research and analysis and provide guidance on product house views for fiduciary solutions.
The judging panel was impressed by several case studies in which FNB demonstrated recent innovations on the product side. During the awards period, it launched several distributed structured products, including a Rand-denominated and two dollar-denominated products providing capital guarantees and leveraged positive exposure to the MSCI World Index.
In addition, a moderate-income solution was launched for clients who want a diversified multi-asset income product but with a higher real return target than typical income mandates.
