FEATURED IN THIS ISSUE - ISSUE 11 - WINTER 2018 - IS UK PROPERTY STILL SAFE AS HOUSES? THE RISE OF SUSTAINABLE INVESTING BRIDGING THE INVESTMENT ...
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ISSUE 11 - WINTER 2018 FEATURED IN THIS ISSUE… IS UK PROPERTY STILL SAFE AS HOUSES? THE RISE OF SUSTAINABLE INVESTING BRIDGING THE INVESTMENT GAP NEW INTERNATIONAL APP
WELCOME TO OUR
WINTER 2018 ISSUE
I am delighted to welcome you
to this issue of Opportunity,
my first since taking over
from Greg Horton in March
this year.
It has been an extremely busy,
but enjoyable, first few months
as I have got to know the teams across all our office locations.
I am incredibly impressed by the passion and enthusiasm of
everyone I’ve met, and their dedication to delivering excellent
personal service.
One of my keen interests since joining is our technology
development programme. We continue to invest in our systems
to provide you with more choice in the ways you can engage with
us. As part of this rollout, we have launched our new mobile app
and I am delighted with the positive response to this. Our ongoing
investment in technology is designed to enhance rather than
replace the human touch.
When choosing a private banking relationship, it often comes
down to the people you deal with on a daily basis. Consistency is
important and many of our staff have been with the company for
a long time. This means we can offer named points of contact,
direct line numbers, and staff taking ownership of your request
and seeing it through personally. We won’t always get it right, but
we always endeavour to put any problems right as quickly and
efficiently as we can.
We appreciate that by looking after our staff well, they will
look after you. And our focus on our people was recognised once
again this year in The Sunday Times 100 Best Companies to
Work For listing, where our staff voted us in at number 24 – the
only private bank on the list. We have also received a further
two awards this year from the International Fund and Product
Awards, for Best International Private Banking Service and Best
International Wealth Management Provider (UK), both for the
third year running.
While a focus on our people and client service seems obvious, we
continue to see new clients referred to us as a refuge from larger,
more impersonal private banks. Our teams place great value
on the friends and family that are introduced to the bank, and I
would like to thank those of you that continue to advocate our
high service levels to those who are yet to experience them.
Finally, I would like to thank you for all your feedback and the
thoughtful suggestions I have received since I joined. I welcome all
your ideas and comments so please keep them coming in to me.
With best wishes,
Stuart Cummins
Managing Director and Executive Head,
Nedbank Private Wealth International
2
INTRODUCING STUART
We welcome Stuart Cummins who took over the reins of the business in March. In the
article below, we talk to Stuart about his move to Nedbank Private Wealth and his
plans for the future.
Tell us a little about your professional background What makes Nedbank Private Wealth different?
I have been involved in wealth management and There are lots of very practical ways we are different.
private banking for over 20 years and have been in For example, when clients want a mortgage for their
banking for over 29 years. Most recently, I have new house, we can move quickly and take a sensible
undertaken senior roles at Cazenove Capital and view. All of our credit sanctioning committee are senior
C.Hoare & Co, and prior to that I spent 23 years at and experienced lenders. As a result, we can take a
Barclays. I took over the role as managing director of pragmatic approach. This is particularly relevant for
Nedbank Private Wealth in March this year. entrepreneurs who are close to selling their business and
What are your responsibilities at have found the house of their dreams, or professionals
Nedbank Private Wealth? who have locked-in compensation structures, or family
wealth structures, that require experience and
I am responsible for the entire Nedbank Private
understanding when thinking how to structure the
Wealth International business. This includes the
lending. From a banking perspective, we continue to
bank, investment business and trust company. We
provide direct lines to our clients so they can call the
have offices in London, Jersey, Isle of Man, Guernsey
same person, who gets to know them and their family.
and Dubai.
From an investment perspective, we have our own
Have there been any other changes to the Board? dedicated funds research and selection team, which
At the time that I was appointed as managing director, means that unlike many wealth managers, we are not
Errol Kruger was appointed as non-executive chairman limited to what is available on an external panel. This
of the Board, taking over from Tom Boardman. means we can add value to our clients through more
Errol has an impressive CV. He was registrar of interesting investment ideas including those that tap
banks in South Africa, managing director of the into alternative energy sources, or provide access to
Monetary Authority in Qatar, and he is a non- specific investment themes, while other firms are
executive director of the Nedbank Group Board. limited to more mainstream equity exposure.
Our risk and compliance director Stuart Wilkins was What are your plans for the business?
also appointed to the Board.
Firstly, I want to ensure that we continue to provide
What attracted you to this role? the great day-to-day services to our clients that we
Firstly, there was a strong cultural fit for me with currently do. But, I also want to improve the digital
Nedbank Private Wealth. I believe in providing quality experience for our clients, and I was pleased that we
advice to families, putting our clients’ interests first, could release the early stage version of our mobile app
and delivering great personal service. We exist to in September. This is only the start, and building better
protect our clients’ wealth, to advise them and make technology experiences for clients is important to me.
their lives easier. Secondly, I was impressed with the What do you like to do away from the office?
reputation of Nedbank Private Wealth and the quality
I live in Hampshire with my wife, Viv. We have
of the people here. There is a strong family feel and
two sons, one of whom has just started at
this really matters. The business continues to grow as
university and the other who is finishing his
clients look to consolidate more wealth to us from
A levels next year. In between travelling, I
larger wealth managers. Service and relationships
am currently training for triathlons next
count, and as much as large private banks try to
year, so in my spare time I like to run,
deliver personal service, it often falls over due to
swim or cycle. I also ride motorbikes
internal re-structures and bureaucracy, or impersonal
and have recently returned from an
procedures. We are distinctly different and clients
off-road motorcycle tour across
like this.
Morocco. Outside of that, I play
a little golf and enjoy time
outside in muddy fields
walking our two dogs.
3
IS UK PROPERTY STILL
SAFE AS HOUSES?
by Colin Campbell, Private Banker, London
Ten years on from the financial crisis and with Brexit
looming, is UK residential property still ‘safe as houses’, and
should investors be looking to buy, sell or hold?
Political uncertainty, Brexit, taxation and regulatory changes, combined
with recent interest rate increases in the UK are all having an effect on
the market, with growth rates slowing and prices declining in parts of
London. There has been a shift in activity from buy-to-let towards
first-time buyers, and home movers are at half the level of ten years
ago. Private rented sector demand has increased across all age groups,
creating one of the driving forces behind ‘build to rent’, with institutions,
not individuals, taking up much of the slack in the market.
KNOW YOUR MARKET
While a recent house price index reported continued annual growth
across the UK of 2% in September 2018, this is not the case in London
and the South East, areas which have the largest concentration of high
value property in the UK. Property agent Savills advises that the ‘trickle
down’ effect from Central London is now adversely affecting parts of
the commuter belt including the ‘prime suburbs’. Conversely, growth is
stronger across much of the remainder of the UK.
In London, while sales in Kensington and Chelsea are relatively subdued
and the £1 million to £3 million market is taking longer to recover than
expected, the more affordable boroughs – mainly across Greater
London - are increasingly attracting buyers. This is even more the case
where transport links have improved or are in the pipeline. The new
Crossrail line is expected to present buying opportunities, particularly in
areas to the east of the capital. However, some of the growth potential
may be ‘priced in’ already.
There is a lot of sobriety in the market with both supply and demand
limited, however, opportunities remain; in the future there will be
politically driven opportunities, with considerably more government
rhetoric and action to deliver new homes and new ownership incentives.
This will be backed up by a more muscular house building industry with
builders, housing associations and large institutions all playing their
part in increasing the supply of housing both in London and beyond.
THE BUY-TO-LET QUESTION
Rising prices and a growing, more mobile, population mean that the
rental market continues to prosper, as saving for a larger deposit and
affording a larger mortgage becomes more and more difficult, despite
various initiatives to help first-time buyers. Furthermore, an increasing
number of ‘millennials’ are opting for the increased flexibility that
renting brings. As a result, it is predicted that almost a quarter of
households will be in rented accommodation by the end of 2021.
While landlords receive much ‘bad press’ and an array of tax and
regulatory changes is limiting activity in this sector, the buy-to-let
market remains vital to a growing population who cannot afford, or
simply do not want, to own their own home. It is extremely likely that
this will continue to be the case while population growth outstrips
housebuilding. Yields are currently low by historic standards, but
buy-to-let can offer a regular income stream with the potential for
long-term earnings growth. However, investing in the right areas is key.
4
Another option to consider is the enhanced yield are ‘stress tested’ by lenders. Where in doubt, or
that houses of multiple occupancy (HMOs) might when considering restructuring, independent
bring, although HMOs present both pros and cons, professional advice should always be sought.
and seeking specialist advice is recommended
TAKE A LONG-TERM VIEW
before proceeding down this route.
Savills’ current market outlook is muted with the
CONSIDER THE COSTS potential for 5% annual growth over the medium
When buying a property - either to live in or as an to long term. Regional variations will continue to
investment - there will be professional service fees play a part, with the North West of England
and stamp duty land tax (SDLT) costs to consider. expected to exhibit the strongest signs of growth
There will also be mortgage and valuation fees if and London the weakest, although prime central
applying for a mortgage. When purchasing a London is likely to perform differently to the
second home, there is a 3% SDLT surcharge and, capital as a whole.
for purchases of property worth £500,000 or
In addition to questions over the UK’s future
more by corporate bodies, a flat rate of 15%. In
relationship with the European Union, political
addition, if you wish to sell a UK property that is
uncertainty hangs in the air, with much being
not your main residence, any profit on disposal
written about the significant impact a change of
may be liable to tax at 28% for higher rate
government would have on the market. While a
taxpayers. Profits on the sale of your main
degree of caution is advisable, the feeling is that a
residence are exempt from this Capital Gains Tax
more leftist government would in fact have a
(CGT). Another consideration is inheritance tax
limited impact on property regulation, with rent
(IHT). Any property located in the UK could be
controls being hard to enforce in practice and any
subject to IHT, and this takes the form of an
revisions to council tax being politically toxic.
estate duty payable on death (40%).
Overseas investor sentiment appears to have
If the property is owned by a company or trust,
cooled but only in proportion to the market, with
there may be additional tax considerations. For
investors waiting to see a firm recovery in sterling
example, UK properties with a value of £500,000
before committing to the sector, something that is
or more that are enveloped within a company will
likely to be heavily influenced by Brexit.
be subject to a fixed annual tax charge.
In the short term a sober mood is likely to prevail
For property that is rented out, the ability to
across the UK residential market and there are signs
deduct interest and other costs from rental
of cautious optimism longer term. While political
income is now being limited. If a property is
uncertainty, tax and regulatory changes, and
leasehold, there may also be annual ground rent
increasing interest rates have impacted the market
and service charges to pay. These factors will
and reduced demand, supply remains limited also,
increase costs, thus reducing the effective net
and the UK continues to be an attractive
yield, making it doubly important to have a
destination, both to live, work and invest in.
thorough understanding of what is involved
beyond the purchase price. As to the ‘buy, sell or hold’ question, there is no
easy answer - each situation must be considered
Some owner occupiers, investors, and the majority
on its own merits. As with any investment, it pays
of landlords will need to prepare for various tax
to know your market, consider all costs and take a
changes and larger tax bills going forward.
long-term view.
Borrowers also need to be mindful of the impact
that both increasing rates and taxes will have on
affordability, particularly when loan applications
We recently held a UK property seminar in our London office with leading international
property agent, Savills, which provided more insights on this subject. A video of the
event is available on our website at www.nedbankprivatewealth.com 5
THE RISE OF
SUSTAINABLE INVESTING
by Jon Evans, Head of Business Development
Over $22 trillion of global assets were professionally managed under responsible
investment strategies in 2016, an increase of 25% in two years. Sustainable investing is
now a growing force across global financial markets, with responsible investments
accounting for over 26% of all professionally managed assets globally in 2016.*
Underpinning this growing demand is a vast array these broader goals are often more difficult to
of funds and strategies that integrate ethical quantify than financial performance. Sustainability
considerations into the investment process. ratings, similar to credit ratings, can be used to
Environmental, social and governance (ESG), provide a means of understanding a company’s
socially responsible investing (SRI) and social environmental, social and governance performance.
impact investing (SII) are just some of the industry However, they are often based on company
terms often used interchangeably by clients and sustainability policies and declarations, in addition
professionals. However, for the purpose of its to performance, and they can be biased towards
global report, the Global Sustainable Investment larger companies who have more resources. Better
Alliance (GSIA) defines sustainable investing as information and a more common standard are
‘an investment approach that considers needed to measure how companies perform on
environmental, social and governance factors in non-financial goals. Morningstar introduced its
portfolio selection and management’. sustainability rating for funds in 2016, which
allows investors to assess the underlying holdings
When the concept of sustainable or green
of more than 34,000 funds on ESG factors. The
investing first sprung up around 20 years ago,
Sustainability Accounting Standards Board has
it offered a warm feel-good factor for
also proposed metrics for 79 different industries
environmentally-conscious investors, but generally
to enable investors and companies to compare
low returns. It usually involved putting money into
sustainability performance within each industry.
climate-improving technology (like wind farms),
while avoiding climate-damaging industries (such SUSTAINABLE DEVELOPMENT GOALS
as fossil fuels). Starting out from well-meaning Responsible investing came to increasing
altruistic aims, the sector has now expanded to prominence in the wake of the financial crisis in
target investments that are ‘sustainable’ in a 2008 and gained momentum with the signing of
much wider social sense, such as community the United Nations Sustainable Development
engagement and corporate governance, and it is Goals (SDGs) in September 2015, followed by the
no longer necessary to sacrifice returns to Paris Climate Agreement later the same year.
demonstrate personal values. These agreements set out to achieve a better
The sustainable investment sector continues to future for all and to tackle some of the world’s
evolve, driven by the younger millennial generation most urgent inequalities, including extreme
and female investors, in particular, who tend to poverty, hunger and climate change.
take a more socially responsible attitude The 17 SDGs at the heart of the UN’s ‘Agenda
to investing. There is also a mainstream effect 2030’ formed a plan for the next 15 years to fight
with larger institutional investors, such as pension inequality and injustice, and to protect the planet
funds, taking a more ethical view, which in turn - applying to all nations and leaving no one behind.
means more active share ownership and a Since their publication, the SDGs have taken on an
stronger influence on companies to be more important role in advancing sustainable
transparent, and socially and environmentally development by driving action and cooperation
responsible. between governments, companies and the
financial sector. They also serve as a useful
CORPORATE INTEGRITY framework for measuring the positive impact of
As a result, strong corporate integrity has never investments on global economies, societies and
been more important. Corporate sustainability the environment.
starts with a company’s value system and a
principles-based approach to doing business, but
6
The GSIA review in 2016 identified seven potential
strategies for sustainable investment, the most popular
of which was negative or exclusionary screening -
excluding stocks that conflict with an investor’s personal
values, often so-called sin stocks such as arms, alcohol,
gambling and tobacco. However, ethical exclusions are
increasingly seen as a dated approach, which is now being
overtaken by more sophisticated strategies that
integrate ESG considerations, alongside financial criteria,
into the investment process, with a view to identifying a
company’s potential risks and opportunities.
Impact investing, where the objective is to invest in
companies to achieve a positive social and environmental
outcome, has a far greater potential to boost returns.
Evidence shows that by engaging with relevant ESG
factors, companies can attract more investment and
experience better long-term sustainable performance.
Conversely, in this world of 24-hour global news, the cost
of ignoring ESG risks can have a rapid and damaging
effect on brand reputation and, ultimately, inward
investment. Coverage of BP’s Deepwater Horizon and,
more recently, the Volkswagen emissions scandal showed
what a significant negative effect this could have on
share prices.
SUSTAINABILITY COMMITMENT
With innovation and demand growing, asset managers
are increasingly making a public commitment to
incorporating sustainability and ESG issues into their
investment analysis and decision-making processes, and
they have demonstrated this by signing up to the UN
Principles for Responsible Investing (UNPRI). These
principles were developed by an international group of
institutional investors, alongside the United Nations
Secretary-General, to reflect the increasing relevance of
environmental, social and corporate governance issues to
investment practices.
A LONG-TERM PERSPECTIVE
As long-term investors, the sustainability of the
companies in which we invest on behalf of our clients is
extremely important to us. Within our discretionary
investment management service, we employ a number of
external managers and use a disciplined decision-making
process to carefully select the funds we believe will
outperform over the longer term. ESG analysis is an
integral part of the selection process. By assessing the
materiality and direction (the improving and
deteriorating) of ESG related issues for each company,
the manager can incorporate ESG analysis into their
overall risk and valuation assessment. The integration of
ESG into the mainstream investment process is
highlighted by the fact that 100% of our managers are
either signatories to UNPRI, or invest in social care or
environmental assets.
Finally, with various academic studies identifying a link
between responsible investing and positive long-term
returns, the importance of ESG analysis as part of the
investment process can no longer be overlooked.
* Source: Global Sustainable Investment Alliance (GSIA),
a group funded by financial companies.
7
YOUR WEALTH - WHEREVER YOU ARE
Managing your account has just got easier with the introduction of the
Nedbank Private Wealth app, which is available for both international and
South Africa accountholders.
This autumn saw the launch of our new app for international accountholders*,
which provides a quick and easy way to keep track of your personal wealth,
whenever and wherever you are. Sign-in is simple and secure using either a PIN,
your fingerprint, or even just by looking at your phone.
The international app provides a consolidated dashboard giving you
a 360° view of all your accounts with us. At a glance, you can view your cash
accounts, investment holdings and your transaction history.
APP FEATURES You can download the app from the App store
for Apple users and the Google play store for
In addition to the instant overview of your
Android users, simply search for the Nedbank
total wealth with Nedbank Private Wealth
Private Wealth app.
International, you can also:
• Sign in safely and securely using a PIN, your FIND OUT MORE
fingerprint, or face ID
More detailed information and all the help you
• Make UK domestic payments need to get started can be found on our website
at www.nedbankprivatewealth.com.
• Make same currency transfers within the
same Focus account If you need additional assistance, please contact
your relationship manager or our client services
• View investment holdings, current values,
team on +44 (0)1624 645000 between 8am and
transactions and contract notes
8pm (UK time), Monday to Friday.
• View details of your term deposits, and any
loans and overdrafts.
The Nedbank Private Wealth International app
will be regularly updated with new features and
functionality.*
WHAT ABOUT SECURITY?
We have ensured that the technology used in the
app adheres to the highest levels of security to
protect your personal information and wealth.
With a secure sign-in every time you use the
app and additional verification steps when
transacting, you can have peace of mind that
your personal and wealth information is kept
confidential, and no-one else will be able to
transact on your profile if you misplace
your phone.
*Please note that some features will
differ for Nedbank Private Wealth
International and Nedbank Private
8 Wealth South Africa accountholders.
BRIDGING THE
INVESTMENT GAP
by Beckie Williams, Head of Client Proposition
In terms of wealth, the gender gap is gradually narrowing as women’s wealth and
incomes are growing, increasing women’s financial strength and independence around
the world. Recent research reported that between 2010 and 2015 private wealth held
by women grew from $34 trillion to $51 trillion. By 2020 they are expected to hold $72
trillion, a 32% share of all private wealth.*
Driven by improved educational opportunities Despite some women expressing a lack of
around the world, women now account for over 50% confidence in financial matters, when women
of graduates, increasing their future earnings power do invest they often see stronger returns than
and workplace influence. While average earnings for men, and this could be down to their so called
women still tend to lag behind men, the income gap ‘female traits’. The key investment principles
is beginning to close. This rapidly emerging female remain the same, but women tend to behave
economy makes women an increasingly important differently to men.
market for wealth managers, but are their financial
• Making a plan. Building financial plans in terms
needs the same as men’s?
of life goals for themselves or their families
ARE WOMEN’S FINANCIAL NEEDS means women tend to take a more long-term
REALLY DIFFERENT? view with their investments.
Women tend to live longer and often retire earlier, • Diversify. Women are more likely to hold their
so retirement planning is an area that needs to be savings in funds, which contain a mix of assets
considered as early as possible in their working lives. from bonds, equities and property to global
Add to this the more fragmented nature of many investments. These offer more opportunities for
women’s careers, as they juggle their professional diversification, which means less risk and volatility.
lives with parenthood and caring responsibilities.
Increasing divorce rates and widowhood also mean • Take a long-term view. Evidence suggests that
that more women are looking after their own women tend to ‘buy and hold’, rather than react
financial affairs than ever before, and often at a to market fluctuations, meaning they benefit
later stage in life. from long-term gains and reduced trading costs.
It is important, therefore, that women make the • Take professional advice. Many women naturally
right investment decisions to accumulate sufficient turn to friends or family for advice, but a trusted
wealth for a potentially long retirement. The earlier professional adviser will have the experience and
they start investing, the better, as regular savings expertise to tailor investments specifically to
will have longer to compound and grow for a more their agreed goals and attitude to risk.
secure retirement. IT’S A WOMAN’S WORLD
However, recent research revealed that only half of Better career progression, longer life spans and
women feel confident in managing investments, inheritances mean more women are controlling
and many feel underserved by an investment substantial wealth and wealth managers can no
industry that has traditionally been more longer afford to ignore them. As this group of
male-centric. Wealth managers must engage more affluent women begin to demonstrate their values
effectively to encourage women to talk about through their portfolios, their growing influence will
their specific financial needs. be reflected throughout the investment industry.
DO WOMEN TAKE A DIFFERENT At Nedbank Private Wealth, we have extensive
INVESTMENT APPROACH? experience of managing assets for women and our
diverse private banking team works closely with
The common stereotype is that women are more
each of our clients to advise on the most
risk-averse than men, but what is clear is that
appropriate means to achieve their personal
women tend to see money in terms of what it can
financial goals.
do for their families. Their financial objectives are
more driven by their personal values, goals and *
Source: Boston Consulting Group, as reported in The Economist -
priorities, rather than simply investment
www.economist.com/finance-and-economics/2018/03/08/
performance and returns. investment-by-women-and-in-them-is-growing
Obviously, not all women have identical financial
goals and it is vital that wealth managers get to
know each client’s needs and how they can best
make their money work for them.
9
NEDGROUP TRUST ACHIEVES
STEP PLATINUM REACCREDITATION
Nedgroup Trust has achieved reaccreditation as a Platinum Employer Partner
from the Society of Trust and Estate Practitioners (STEP). Achieving platinum
accreditation, the highest level awarded, is testament to the strength of the learning
and development opportunities and practices that Nedgroup Trust has in place to
support its growing trust business.
We are very proud to achieve this award as it is a that everyone is developed to their full potential
true reflection of the hard work and commitment and has the necessary skills to support the
of our people. It reflects our view that training business in fulfilling its goals, while complying
and development is key to creating a technically fully with the strict regulatory environment in
minded, successful and happy team, which in turn which the business operates.”
enhances our client experience.
STEP is the global professional association for
To achieve platinum accreditation, an practitioners who specialise in family inheritance
organisation must show that the importance of and succession planning. STEP works to improve
learning and development is championed public understanding of the issues families face in
throughout the business, as well as this area and promotes education and high
demonstrating a positive work and learning professional standards among its members.
environment.
STEP members help families plan for their
STEP was particularly impressed by the futures, from drafting wills to issues surrounding
continuous improvement in learning and international families, protection of the
development provision offered to our staff in vulnerable, family businesses and philanthropic
both Jersey and Guernsey. Jenni Hutchinson, giving. Full STEP members, known as Trust and
STEP’s Head of Employer Partnerships, said: “It is Estate Practitioners (TEPs), are internationally
pleasing to see how staff development is recognised as experts in their field, with proven
supported and championed from the very top of qualifications and experience.
the organisation. Great care is taken to ensure
Nedgroup Trust Jersey team: (from left to right - back Jenni Hutchinson, Head of Employer Partnerships at
row) Hayley Pallot, Anthony Shield, Chris Roscouet, STEP, presents the reaccreditation certificate to Nathan
Joanne McConnell, Jake Michel, Gary Bateley, Lihou, Chief Operating Officer at Nedgroup Trust, and the
Emma Syvret, (from left to right - front row) Guernsey team STEP members.
Patricia Dollimore, Frances Rimeur-Amy,
Jemma Ronayne, Katie Penny and Karen Proper.
10From left to right: Lynn Kelly, Senior Learning and Development
Executive; apprentices Jack Leasor, Oliver Morris and Jess Ward; and
Grace Eames, Head of Human Resources at Nedbank Private Wealth.
TRIPLE SUCCESS FOR OUR FIRST APPRENTICES
Our three apprentices have marked the end of their first year with a triple success.
Jess Ward and Jack Leasor, who are employed in the IT department at Nedbank
Private Wealth, have successfully completed the first year of the Level 4
BTEC HNC in Computing. While banking apprentice Oliver Morris celebrated
the completion of his Level 3 Professional Banker Certificate by becoming a
permanent member of the bank’s operations team.
These are the first three apprentices that Manx economy, and this scheme offers a great
we have supported through the Isle of Man opportunity for young people to continue their
Apprenticeship Scheme. Oliver (20) joined the education and gain qualifications without
bank’s operations team in August 2017, and he leaving the Island. Our three trainees have
was followed by Jess (19) and Jack (19), who become valued members of the Nedbank
both joined in September 2017 through the Private Wealth team, while developing new skills
Manx Information Communication Technology and building experience which will be beneficial
Association (MICTA). throughout their careers.
Lynn Kelly, our senior learning and development “This has been a great start to the
executive, said: “We are delighted to apprenticeship scheme for us and we have now
congratulate Jess, Jack and Oliver on their recruited new apprentices to join our banking
success. We understand how important it is and marketing departments.”
to develop and retain professional skills in the
PERFECT SCORE FOR INVESTORS IN
PEOPLE GOLD STANDARD
We recently had another good reason to celebrate. Not only had we been
reaccredited with the prestigious Gold status from Investors in People (IIP), but
we also achieved a perfect score against the Framework, meeting all 196 of the
evidence requirements. This level of accreditation places us in the top 16% of
IIP accredited organisations across the UK, demonstrating our commitment to
people management excellence across all areas of the business.
This was the fifth successful review since the bank was first awarded the
Investors in People Standard in 2002. The assessment included interviews with
staff from both the Wealth and Trust divisions of the organisation, and from all
five of our office locations: the Isle of Man, Guernsey, Jersey, London and Dubai.
Investors in People is the international standard for people management,
defining what it takes to lead, support and manage people effectively to achieve
sustainable results.
11CONTACT US
For further information, please contact our client services team
at client.services@nedbankprivatewealth.com or visit
www.nedbankprivatewealth.com
NEDBANK PRIVATE WEALTH
ISLE OF MAN OFFICE LONDON OFFICE
St Mary’s Court Millennium Bridge House
20 Hill Street Douglas 2 Lambeth Hill
Isle of Man IM1 1EU London EC4V 4GG
British Isles United Kingdom
Tel +44 (0)1624 645000 Tel +44 (0)20 7002 3600
JERSEY OFFICE UAE OFFICE
31 The Esplanade Nedbank Private Wealth Office
St Helier Jersey 129/130 1st Floor Emarat Atrium
JE1 1FB Channel Islands Building Sheikh Zayed Road PO Box
Tel +44 (0)1534 887889 214500 Dubai UAE
Tel +971 (4) 3465581
NEDGROUP TRUST
NEDGROUP TRUST (JERSEY) NEDGROUP TRUST LIMITED
LIMITED PO Box 192
31 The Esplanade Fairbairn House
St Helier Jersey Rohais St Peter Port
JE1 1FT Channel Islands Guernsey GY1 3LT
Tel +44 (0)1534 823202 Tel +44 (0) 1481 710895
Nedbank Private Wealth is a registered trade name of Nedbank Private Wealth Limited. The parent of Nedbank Private Wealth
Limited is Nedbank Group Limited, which is incorporated in South Africa and is regulated by the South African Reserve Bank. The
latest audited report and accounts, and details of the credit rating are available at www.nedbankprivatewealth.com.
Nedbank Private Wealth Limited is licensed by the Isle of Man Financial Services Authority and is a participant in the Isle of Man
Depositors’ Compensation Scheme as set out in the Compensation of Depositors Regulations 2010. For full details, please see www.
iomfsa.im. Registered office: St Mary’s Court 20 Hill Street Douglas Isle of Man.
The Jersey branch is regulated by the Jersey Financial Services Commission and is a participant in the Jersey Banking Depositor
Compensation Scheme. See www.gov.je/dcs for full details of the Scheme and banking groups covered.
The London branch is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and
the Prudential Regulation Authority. Registration No: 313189. Your eligible deposits with Nedbank Private Wealth Limited, London
branch, are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK’s deposit guarantee
scheme. Any deposits you hold above the £85,000 limit are unlikely to be covered. Please ask for further information or visit www.
fscs.org.uk.
The UAE representative office in Dubai is licensed by the Central Bank of UAE. Licence No: 13/191/2013.
Representation in South Africa is through Nedbank Limited. Registered in South Africa with Registration No 1951/000009/06, an
authorised financial services and registered credit provider (NCRCP16).
Nedgroup Trust is a registered trade name of Nedgroup Trust Limited and Nedgroup Trust (Jersey) Limited.
Nedgroup Trust (Jersey) Limited is regulated by the Jersey Financial Services Commission.
Nedgroup Trust Limited is licensed by the Guernsey Financial Services Commission under the Regulation of Fiduciaries,
Administration Businesses and Company Directors, etc (Bailiwick of Guernsey) Law, 2000 to form, manage and administer trusts,
companies, pension schemes and gratuity schemes. Company Registration No. 23460. Nedbank Private Wealth Limited is not
licensed to take deposits under the Banking Supervision (Bailiwick of Guernsey) Law, 1994 and it is not a member of the Guernsey
Banking Deposit Compensation Scheme.
The opinions in Opportunity are those held by the authors at the time of printing. All data herein is sourced from local exchanges via
Reuters, Bloomberg and other vendors. The information herein has been obtained from public sources believed to be reliable. Nedbank
Private Wealth makes no representation as to the accuracy or completeness of such information. Should you no longer wish to
receive this publication or any information about Nedbank Private Wealth’s products and services, please advise us in writing. Also,
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