STANLIB

STANLIB

Type	Public
Industry	Financial services
Founded	2002
Headquarters	Johannesburg, South Africa
Area served	Africa
Key people	Seelan Gobalsamy (CEO) Saci Macozoma (Non-executive chairman)[1]
Products	Asset management Wealth management
Revenue	R489 million (2012)[2]
Total assets	R3.8 billion (2012)[3]
Number of employees	650[4]
Parent	Liberty Holdings Limited
Website	www.stanlib.com

STANLIB connects multiple investment specialists across a broad range of asset classes to enable them to make better-informed decisions for the benefit of their customers. Succeeding in today's interconnected, fast-changing world requires investment professionals who share deep insights to make the connections that count.

As Africa's largest wealth manager, they have a network of investment experts across the continent, with on the ground presence in 10 countries. Their connections extend to business partners in North America, United Kingdom, Europe, Middle East and Asia. Their access to a broad range of different perspectives allows them to help their customers, both individuals and institutions, and achieve their financial goals.

History

STANLIB was acquired in 2007 by Liberty Life. They are core contributors to the Liberty Wealth vision of complementary financial solutions across a single platform. Wealth products are designed to meet diverse needs in South Africa, Africa and beyond. Full Liberty control completed a process that began in 2002 when Liberty Life and Standard Bank merged their asset and wealth management interests to form STANLIB.

STANLIB's roots go back to 1862 when the Standard Bank of British South Africa was founded in London. It became a South African bank in 1962. Life assurer Liberty Life was launched in 1957. The first unit trust was launched by Guardbank Management Corporation Ltd in 1970. Operations were expanded to Uganda and Botswana in 1992, Namibia in 1994, and Swaziland and Kenya in 1999. Lesotho followed in 2001.

STANLIB (a merger of seven Standard Bank and Liberty Life businesses) was launched in May 2002.^[5] The amalgamation of various unit trust ranges followed in 2004. The Safika BEE consortium acquired a 25% stake in STANLIB in 2003 and Saki Macozoma became the chairman. Another BEE grouping (Quantum Leap Investments) bought a further 12.6% a year later. Effective BEE ownership had reached 33% by 2004. Constant product innovation, in South Africa and across Africa, contributed to sustained growth after 2002. In June 2006 corporate reinvention transformed STANLIB, with 15 investment franchises being formed. In the same year SANLIB's wealth business was integrated with asset management functions. Later in 2006, a distribution and client support function was established in the UK, paving the way for the development of products targeted at international investors.

African operations (outside of South Africa)

STANLIB Africa has been operational since 1997. Since its inception, STANLIB Africa has secured retail and institutional mandates in 8 countries outside South Africa, the hub of the group's investment and technical expertise. The establishment of 6 STANLIB subsidiary offices on the continent has achieved the objective of delivering local product to meet the demand of local conditions and investment needs.

References