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From beauty queen to kick-ass corporate executive

We truly live in exciting times! Standard Bank has just announced the appointment of Peggy-Sue Khumalo as the new Chief Executive for its Wealth South Africa division

A FIRST for a black woman, the position is effective from February 02, 2019.  Khumalo, a former Miss South Africa (1996), 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 BEE Financing for Investec in 2013.

Margaret Nienaber, Standard Bank Chief Executive for Wealth has this to say: “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.”

Two queens in one castle; Basetsana Kumalo (left) and Peggy-Sue Khumalo (right)

Outside of her achievements in the banking industry, Khumalo founded the Peggy-Sue Khumalo Honorary Scholarship in partnership with the then CIDA City Campus, which focuses on girls from rural communities. In May 2011 she was selected as an honorary member of the Wits International Golden Keys Society. Furthermore, she works with several charities, including Little Eden, Teddy Bear Foundation,  Liliesleaf Trust and Seeds of Africa as the head of fundraising.  Previously,  the wife of the much-loved 702 radio anchor worked with UNICEF, UNAIDS, and Red Cross Southern Africa and Reach for a Dream Foundation,  focusing on education and health issues.

Now,  as the new Chief Executive for South Africa’s number 1 private bank, according to a survey by the research group Intellidex,  Khumalo will report to Margaret Nienaber, Chief Executive Standard Bank Wealth and Lungisa Fuzile, Chief Executive Standard Bank South.

Twittersphere: A momentous moment for SA

To find how momentous this appointment is to the black men and women of South Africa, here’s what the local Twitteratis have to say:

Singer & philanthropist Yvonne Chaka Chaka: I am a proud daughter of a #domesticworkers. Where you come from should not deter what you want to be and achieve. Congratulations Peggy Sue Khumalofor being a true @ChampionSAfrica @_cosatu @DwsscInfo

Lerato Mbele-Roberts: Congratulations to former Miss SA Peggy Sue Khumalo, an MSc graduate, investment banker & now CEO of @StandardBankZA Wealth Division. You are a testament to the fact that hard work pays off, humility is a leadership trait and that beauty & brains is a winning combination?

Chuene Mapoulo: Women who literally shake the ground they walk on! Amazing stuff! What a great representation of progress!!!

Thanda Mkhize: Ahhh Investec lost a gem. What a humble beautiful soul she is!

Bonginkosi Siwela: Secretly hoping more corporates can lead the charge, appoint more women in leadership and decision making positions.

Sowetan Live: After 17 years at Investec‚ Peggy Sue Khumalo is the first black woman to head the Standard Bank wealth unit.

Enock Shivambu: I remember when she was handing over the crown to Naicker Krishna, she said; In a small but significant way, I’ve made inroads. Little did we know that she would reach such heights. Congratulations

Tankiso Komane
Tankiso Komane
A Tshwane University of Technology journalism graduate, Tankiso Komane has a vast experience in print & broadcast media business and has worked for some of the country’s biggest daily newspapers, including The Sowetan, The Citizen, The Times, and The New Age. Through her varied work as a journalist, notably as a copywriter for SABC1 (On-Air promotions) and as a publicist for Onyx Communications, she has developed an in-depth understanding of the nature of the media business and how to use it for the purpose of exposure. Her expertise in journalism across various disciplines, coupled with a good reputation, has laid the foundation of a new kind "trust in Journalism" as the media ecosystem continues to digitally evolve.
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