Nedbank (Group management, Nedbank Wealth :red_cross: Group managing executive: Iolanda Ruggiero Email: iolandar@nedbank.co.za, Rest of Africa Group managing executive: Mfundo Nkuhlu Email: mfundok@nedbank.co.za, Nedbank Retail and Business Banking Group executive: Philip Wessels Email: philipw@nedbank.co.za, Nedbank Corporate and investment banking Group managing executive: … Nedbank is known for their strong emphasis on values, a journey that resumed almost eight years ago, and that internally is branded as “leading for deep green”. About two months before Boardman left they sat down and crafted a detailed plan on how he would say farewell to Nedbank and how Nedbank would thank him for a job well done. These are modeled or imitated by the rest of the staff. So there were no real surprises. ... Jaco van Wyk on being the CEO’s business partner. He is the Co-Founder and CEO of Leadership Platform. Michael William Thomas Brown - Chief Executive Appointed: June 2004 as Chief Financial Officer and March 2010 as Chief Executive Our meeting happened while the HSBC deal was on the cards, but shortly after fell through. Adriaan, as an accomplished author and leadership advisor, has been interviewing and working with top leaders for more than 15 years. We have one of the most stable and experienced management teams in the industry, working together with the singular vision of building Africa's most admired bank. © 2015 Leadership Platform. Stuart Cummins, chief executive of Nedbank Private Wealth International, added: “I am delighted that Andrew and Jeremy have chosen to join us. JOHANNESBURG - Nedbank CEO Mike Brown says the world is a long way from feeling like it did before the recession of 2008, and the second half of 2013 is sure to prove that. What advice would you give the CEO of Nedbank about how to improve it? We know for absolute certain that no Nedbank systems or Nedbank bank accounts are at risk. South Africa’s economic future is closely linked to the structural reforms which will bring about reliable and affordable electricity supply, said Nedbank Group CEO Mike Brown. At the time of the possible deal they were clear about their strategy, but believed with HSBC the vision could be accelerated. Yet, he and several of the team members had worked alongside Boardman for several years, jointly carving out the bank’s strategy, so why the need for sudden change? We know now that the HSBC deal did not happen, which is regrettable as few leaders may be more prepared for such a deal as Brown. Mike Brown, CEO of Nedbank, comes from a family of bankers. By subscribing you will be updated with the latest insights and news from us. For more information call 0860 775 775 or email dataprotection@nedbank.co.za. Vision, Values & Strategy Nedbank is vision-led and values driven. From a profitability perspective it is clear that massive resources are often invested unproductively by organisations in order to compensate for lack of cohesiveness and authority in attitude management; lack of common leadership language & believable (believed) leadership models; and […], A few weeks ago I met with a very impressive, very humble, and extremely dedicated leader: Her name is Elsbeth Dixon, the CEO of Common Purpose South Africa. Mfundo Clement Nkuhlu, 53 Chief Operating Officer & Executive Director: Nedbank Group Ltd., Nedbank Ltd., Ecobank Transnational, Inc., Banco Único SA: Iain G. Williamson, 49 Non-Executive Director His leadership abilities were no doubt accelerated by experiencing three mergers along the way – NBS/Boland; BoE/NBS Boland; and finally the merging with Nedbank. Mike Brown, Nedbank Ltd. chief executive officer, discusses the state of the South African economy and banking system with Bloomberg's Guy Johnson … Pivotal to his leadership development was being placed in leadership positions relatively early on in his career. Yet another crucial role of a CEO is to make sure you have the right people in your team and that they are on the right seats. Managing Executive - Nedbank Card, Payments and Transactional City of Johannesburg. In SADC and East Africa they have expanded the Nedbank franchise, with businesses in Zimbabwe, Lesotho, Namibia and Malawi. Other ways of measuring the health of their internal culture also confirms the suggested improvement, again giving them different lenses through which to measure culture improvement. Good to have you here, Mike. Executive Committee Meet the Nedbank Namibia Executive Committee. The average Nedbank monthly salary ranges from approximately R 4 243 per month for Administrative Assistant to R 45 758 per month for Operations Manager. Inside this new Nedbank, Brown managed the Property and Asset Finance Division that formed part of a four-way merger with businesses from BoE, Nedbank, NIB and Cape of Good Hope. […], Like many of you, I love this country. Downvote. Their latest measurement came in as world class, which is a great achievement. He qualified as a chartered accountant and, like so many CA’s, joined Deloitte & Touche to do his articles. For those of you who think you don’t, or don’t know if you do, when you get to that really honest place inside, you realize you too love this place, or at worst, you want to love it, be loyal to it, experience that special feeling of […], Call: +27 (0)12 653 3022 A lot has happened since, as Brown explains: “The Nedbank today is a significantly better organisation in all spheres than two or three years ago, whether you look at it from a shareholders performance lens, a staff engagement and values journey lens, a client lens, a regulatory lens or what we do in the community.” Their vision to become Africa’s most admired bank with sustainable long term success is built around these five components – shareholders, staff, clients, regulators and communities. Brown believes with a clear vision, the right values and the right people in the right seats on the bus you would probably be in good shape. Our meeting happened while the HSBC deal was on the cards, but shortly after fell through. We absolutely believe we can achieve this vision with our current base case, but if there is a change in a controlling shareholder we may get there faster. ‘Economic damage is greater than first thought’ – Nedbank CEO Mike Brown 26th January 2020 24th January 2020 by Linda van Tilburg Finance Minister Tito Mboweni responded this morning to criticism from the business sector attending the World Economic Forum meeting in Davos Switzerland about the pace of structural reform of the economy saying that a process like this does take time. Their appointments add wide-ranging expertise to the board and I look forward to working with them both.” Jeremy Wilson recently retired as vice chairman of Barclays Corporate with Barclays. Email: info@leadershipplatform.com. Nedbank Group was founded in 1973 and is … Their approach towards stakeholders was as follows: 1) We believe that our business as it currently stands has an exciting vision and compelling strategy; 2) We refer you to the stock market where our share price was a top two banking stock over the last two years – proof that we are okay on our own; 3) We have a vision of building Africa’s most admired bank. As CEO of Nedbank and a leader in the current dynamic, fast paced, constantly moving business and sociopolitical environment, Brown sees it as an opportunity. What fascinates me is that there is always so much you can do in business, irrespective of what the outside environment is.”, Brown ultimately believes: “At the end of the day, it does not matter what you pay people unless you enjoy coming to work every single day, which means you enjoy what you do, you enjoy who you do it with, you enjoy how you are treated. Brown believes an important part of the CEO’s job is to be ambitious for the company, not yourself. Email Adriaan on adriaan@leadershipplatform.com for more on creating “Leadership Fit” leaders that generate successful movement (performance) inside your organisation. Brown has therefore led older colleagues most of his life and is currently one of the youngest people on the Nedbank Executive. For example, you walk into a place, you will have a perception of that place before you go there, but even as you’re walking […], Call: +27 (0)12 653 3022 Exceptional academic achievements certainly bolstered these early opportunities and, at about the age of thirty, he was appointed MD of BoE Corporate. He had significant experience and exposure to banking in general and Nedbank in particular. Partner Content. What has in a way surprised him is “the role-modelling that happens in an organisation off the behaviours of the leadership group”, says Brown. Today International Banker is joined by Mike Brown, Group CEO of Nedbank, to discuss the recent political turbulence in South Africa, the challenges facing the bank and Nedbank’s future plans. Mike Brown – CEO of Nedbank Group Limited, Characteristics, Attributes, and Qualities, Self-Made CEO – Wayne Samson, Ellies Holdings Ltd. Unlike his father who wanted to become a doctor but became a banker instead because of financial constraints, Brown had the opportunity to do what he really wanted to. Email Adriaan on adriaan@leadershipplatform.com for more on creating “Leadership Fit” leaders that generate successful movement (performance) inside your organisation. This approach seems to have been a mature and wise one as they are, for now, chasing their strategy on their own. Do you recognize some areas in yourself or your team that need improvement? All Rights Reserved. Knott-Craig: People lead instinctively and intuitively, and I know that sounds very general, but I don’t think people lead in an academic sort of way. Brown says further: “We also measure how many staff are lost to competitors verses how many new hires are coming from competitors and are you a net gainer or loser in the talent pool.” Over the last couple of years they have been a net gainer. Tshifhiwa G Ramuthaga Pr. He had to learn quickly how to interact with people and manage relationships because technical and functional knowledge just wasn’t adequate any more. The rest of his … Characteristics, Attributes, and Qualities, A Leadership Conversation with Jacob Zuma, President of South Africa – Part 2, A Leadership Conversation with Jacob Zuma, President of South Africa – Part 3, Elsbeth Dixon – CEO Common Purpose SA – It Is Who We Are That Really Matters. What made this possible was the good relationship between Boardman and Brown, and their emotional maturity to understand that it was a healthy process. Meet the Nedbank Namibia Board of Directors. 0 0 0 He feels “the world is in a very difficult place right now, economically, with lots of challenges everywhere. CEO Leadership Fitness Mike Brown Nedbank Opportunities. We never spam. He had exposure to various parts of the operations, had been the CFO for five to six years and the transition from the previous CEO to him was seamless and exemplary to say the least. Almost two years ago I had a leadership conversation with Mike Brown who at the time was fairly new in his role as CEO. He is the Co-Founder and CEO of Leadership Platform. Some traps: Too much focus on the spreadsheets and not enough on the people (clients and staff); too many consultants; and it is easy to become too internally focused. Mike Brown – CEO of Nedbank Group Limited. Mike Brown, Nedbank CEO His entrance into banking, though fairly coincidental, was probably evident. Mike Brown, CEO of Nedbank warns that this will make it increasingly difficult to borrow money around the world and in the COVID-19 era more will be expected from banks. He was placed in the financial services division to eventually audit banks, which resulted in a job offer from NBS bank in the early 90’s. Brown says: “If you set the aspiration of being vision led and values driven and you push the ‘leading for deep green’ journey, you have to figure out how to measure, monitor and track or evaluate progress.” They came across a specific survey that they have been using consistently for the last five to six years as a measurement system to track their journey around culture and values, “with the outputs being things like values matches and an entropy score in the form of a percentage point”, explains Brown. Mike Brown – CEO of Nedbank. Brown believes their values focus has impacted performance without a doubt: “It is probably impossible to make the connection scientifically, but certainly I have no doubt that the culture and values journey has played a big part in us retaining people in our organisation, attracting talent and the outcome of all of that has actually been pretty good performance.” He explains further: “If you take Nedbank over a one, three and five year period, I think in all of those we are number one or number two in terms of best performing bank. Nedbank has published its integrated annual report for 2018, showing how much its executives were paid – including CEO, Mike Brown. Adriaan, as an accomplished author and leadership advisor, has been interviewing and working with top leaders for more than 15 years. Nedbank appoints new CFO The role of the modern day CFO is evolving, extending outside of the world of finance as the pace of fin tech gets faster and more complex. (Twitter: @AdriaanG_LP), Wayne Samson’s rise to the office of CEO of Ellies Holdings Ltd. is an interesting and noteworthy story. © 2015 Leadership Platform. He has a great appreciation for this. Not much in fact. New Details from Nedbank CEO: Mike Brown, CEO of Nedbank, had the following details to share in an interview with CNBC Africa : “We have done everything in our power to contain the incident. She then dedicated even more time to a Honours degree in Operations Research. CIO, MBA-GIBS Visionary CIO Award winner. Nedbank chief financial officer (CFO) and executive director, Raisibe Morathi, has resigned after 11 years in the position, the group said in a statement on Tuesday (25 August). Do you recognize some areas in yourself or your team that need improvement? The reason for this is that everyone, including Boardman, would be the first to admit that the rescue was a team effort. Leadership Platform is a specialist leadership development consultancy, focusing on creating measurable impact to the bottom line through the enhancement of leadership understanding and engagement. Upvote. Asked 26 May 2019. For Nedbank the future holds a challenge of how to grow business in Africa, while continuing their constant journey of aligning current and desired values inside Nedbank, to create a culture that is “facilitative of their organisation being more agile, mobile and competitive”. He also set aside two months of this period to attend a course at Harvard, using some of this handover period for personal leadership development and enrichment. At the time of this interview, the HSBC deal was also on the cards. He was also taught “to appreciate opportunities that come one’s way in life”. Brown continues the legacy of an organisation that is vision led and values driven. These invaluable experiences taught him not only about the complex technical aspects of merging banks, but also the traps leaders can step into as well. A key challenge Brown and other banking leaders face moving into the future is to lead in an environment of regulatory and economic uncertainty, and to balance short term performance with long term investment – focusing on capital and liquidity, yet growing and building sustainability for the long term. 3 answers. Answered 8 September 2020. They could well expand more in these areas through acquisition and other means. Brown said that not for one minute did he want to rush into the position sooner than planned, because it would not be beneficial for anyone. Our directors are highly experienced, with diverse skills that cut across industry sectors, disciplines, expertise and experience. Mike Brown – the CEO of Nedbank (South Africa’s fourth largest bank) – was on a salary of R28.7m in 2012, increased to R 32m in 2013 and last year received a 7.7% increase putting his CTC at a delicious R 35 million (Thirty Five Million Rand)! The bank … Not only did we have to level the political playing field but […], Q&A: BRLP: How do you lead? The next youngest person on his Executive team was over forty. (Twitter: @AdriaanG_LP), The leader determines performance levels by imposing believable expectation standards that are believed and valued by all. Nedbank Group chief financial officer (CFO) Raisibe Morathi has resigned from the company and will join Vodacom as its Group CFO from 1 November 2020. One hopes Brown would repeat this in the future as doing so will entrench further their mature organizational culture and it is the ultimate proof of great leadership – multiplying future leaders. Not all organisations focus so intensely on creating a values-driven organisation, perhaps because deep down they just don’t believe it will have a significant impact on their ultimate performance. Nedbank has released their annual report for 2018 which revealed how much their executives earned including Nedbank Chief Executive Mike Brown according to BusinessTech. The average Nedbank salary ranges from approximately R 120 000 per year for Teller to R 614 494 per year for Business Manager. And this is a universal truth that all great leaders understand. In this article I share examples and will refer to the underlying principle as the “concurrent wave”. In Central and West Africa they partner with Ecobank and this relationship has deepened considerably. A lot has happened since, as Brown explains: “The Nedbank today is a … Nedbank has published its integrated financial report for 2017, showing how much its executives got paid last year – including a R38 million payday for CEO Mike Brown… This required extensive communication, road shows, facilitated conversations and exercises with the Exco team, and much more. Holds 627 508 Nedbank Group Limited ordinary shares. Tshifhiwa G Ramuthaga Pr. The remuneration of leaders is linked to their ability to improve values matches and cultural entropy, as part of their performance appraisals. I suppose leaders have to find the opportunities for their businesses within those challenges, and focus your people and leadership team on things they can control and make a difference to. His father, grandfather and an uncle were bankers. The announcement did not affect the share price in the least. You can’t do that on your own, but by the time it is crafted you have to be the one that is out there championing that to internal and external stakeholders.”. Nedbank CEO Mike Brown – R152,480 a day Brown earned a basic salary of R8.1 million, and scored bonuses worth R13.75 million. Leadership Platform is a specialist leadership development consultancy, focusing on creating measurable impact to the bottom line through the enhancement of leadership understanding and engagement. Mike Brown, CEO of Nedbank, comes from a family of bankers. Fortunately Nedbank Leadership seems to have planned their communication strategy about this possible deal well. Email: info@leadershipplatform.com. Also significant about Nedbanks leader was his part in an exemplary handover from one CEO to the next. It is so noteworthy in fact that we were contacted by a very persistent young man who was adamant that we needed to sit with Samson so that we could share Samson’s story in this forum. Nedbank's leadership is highly rated. Nedbank Group is a financial services group in South Africa offering wholesale and retail banking services as well as insurance, asset management, and wealth management.Nedbank Limited is a wholly owned subsidiary of Nedbank Group. The Nedbank board of directors is among the most representative in the South African banking sector. His father, grandfather and an uncle were bankers. Nedbank announced Boardman’s retirement date and Brown as his internal replacement, almost a year before, in the middle of a recession. One of the key roles of the CEO is therefore to be owner and custodian of the vision. The Nedbank Wealth segment provides a range of financial services through three divisions of wealth management, asset management, and insurance. All Rights Reserved. He qualified as a chartered accountant and, like so many CA’s, joined Deloitte & Touche to do his articles. Brown learnt from his father that “one only gets one chance at today”, meaning one has to do one’s best every moment of every day. He stayed with NBS until today, though of course NBS changed through several acquisitions along the way. Authorised financial services and registered credit provider. The following are key lessons learnt: You cannot over communicate; you must have the right leaders in place with the right attitude as quickly as possible; if the strategy is compelling, notwithstanding the challenges, people will buy in to a better future; and think of the journey as a once in a lifetime learning experience. And finally, they have employees that they have lost but came back, many of them ascribing their return to the positive culture of Nedbank. All those things that have to do with what it feels like around here, which is all about values, behaviour and culture – if this is not right it is not going to work for you.”. In 1983 she completed a BSc in Applied Mathematics at the University of Stellenbosch. By subscribing you will be updated with the latest insights and news from us. Crucial to the journey are the values that the leadership team truly live by and the behaviours that they portray. Even though Boardman is in many ways a legend due to his remarkable rescue of Nedbank, Brown has never felt a need to move from under his shadow. Of course they intend to execute on this. I think we are number two in year to date one and three, and number one over five years – a good outcome from a shareholder value creation perspective.”. Now that Brown has been in the hot seat for almost three years, what has he learnt, discovered or been surprised at? It […], Leaders should strive to always be aware of “another side” to situations. However, if asked he would advise a young or newly appointed CEO as follows: “First of all you have to be clear as to the role of the CEO of any organisation and the way I see it and what we are trying to build here is an organisation that is vision led and values driven. "The best CFOs are intellectually persuasive without being arrogant," says Nedbank CEO Mike Brown, a former Chief Financial Officer himself. When it did not happen there was, as Brown says “a lot of inward reflection around the importance of making sure that we deliver, so that there can never be any doubt in anybody’s mind about why HSBC did not do the deal.” Brown feels that their performance over the last few years indicates that the decision to not go through with the deal had nothing to do with Nedbank. Almost two years ago I had a leadership conversation with Mike Brown who at the time was fairly new in his role as CEO. Absa CEO Maria Ramos was paid a total package of R37.6 million for the 2017 financial year, almost matching what Nedbank CEO Mike Brown earned. The strategy of the bank would simply evolve under the leadership of the Executive team. In my view this is proof of a healthy handover, healthy organisational culture and the advantage of an internal successor. Ecobank bought another bank in Nigeria, called Oceanic and Nedbank supported them in this by providing their holding company with a loan, and so secured the rights to acquire twenty percent of Ecobanks equity. We became a democracy and many situations had to and still have to transform. Measurement, monitoring and tracking is very important in any organisation according to Brown. for each of the 2 years in a row, ie in 2010 and 2011. The Centre segment consists of various support services. Brown explains: “It started with the executive team going through a particular process around leadership, understanding your influence on others, personal mastery, a very defined leadership and culture values journey for the leadership team of the organisation.” They have now been successful in cascading that further down the organisation to thousands of staff. For the first period of his tenure, the investment community often wanted to know into what new direction Brown would take the bank. Nedbank's primary market is South Africa. His entrance into banking, though fairly coincidental, was probably evident. I'll bring positive impact in the company, and make sure the company is doing a great job to assist their customers in a positive way . Leadership Mike Brown Nedbank. HSBC is an opportunity to accelerate the delivery of our vision but if it doesn’t accelerate that is also okay. Nedbank Group won 3 financial reporting awards from various reputable institutions such as Investment Analyst Society, Chartered Secretaries, Nkonki/Financial Mail, etc. Broken down, Mike Brown’s package looks like … As he sees it another critical function of the CEO is to focus on creating a “values driven” culture and organisation. Executive Management Personal Find the Right Solution for You ... Nedbank Swaziland Limited Reg No CB39/1974. What the organisation got with Brown was absolute continuity, thus placing the team and Nedbank before any personal ambitions and egos. We never spam. Their strategy to expand into the rest of Africa has evolved significantly. However, the internal dynamics of having both an outgoing and incoming CEO for almost a year had to be managed in a mature manner. To R 614 494 per year for business Manager was on the Nedbank franchise, with lots challenges...... Jaco van Wyk on being the CEO ’ s, joined Deloitte & Touche do. 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