Standard Bank announces the appointment of new Chief Executive for Wealth South Africa Division


Effective 1 February 2019, Peggy-Sue Khumalo will assume the position of Chief Executive, Wealth: South Africa for Standard Bank. Peggy-Sue Khumalo 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 says: “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.

We welcome Peggy-Sue and look forward to working with her as we continue to enable our client’s legacies and dreams.”

Outside of her achievements in the banking industry, Peggy-Sue founded the Peggy-Sue Khumalo Honorary Scholarship in partnership with the then CIDA City Campus, aimed at girls from rural communities. In May 2011 she was selected as an honorary member of the Wits International Golden Keys Society and works with several charities, including; Little Eden, Seeds of Africa, the Teddy Bear Foundation and the Liliesleaf Trust.

Peggy-Sue will report into Margaret Nienaber, Chief Executive Standard Bank Wealth and Lungisa Fuzile, Chief Executive Standard Bank South Africa

Short Bio


1997 – 1998     Damelin College PR and Communications Diploma

2000 – 2003     University of Manchester, UK BA Hons (Economics & Political Science)

2003 – 2004     University of Manchester, UK MSc (Economics)

2013 – 2013     Archbishop Desmond Tutu Leadership Programme Said Business School, University of Oxford, UK Archbishop Tutu African Oxford Fellow

2015 – 2015     Authentic Leadership Development Program, Harvard Business School, Boston US

Notes to editor:

Note to editor:

Wealth spans the Standard Bank Group, offering insurance, investment, fiduciary, specialised banking and lending, and multigenerational wealth preservation solutions to high net worth, retail, business and commercial, and corporate clients. Wealth solutions are offered across sub-Saharan Africa, London, Jersey, Isle of Man and Mauritius.


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