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.”
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💕
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