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Stanbic IBTC wins regional awards in pension and wealth management
Stanbic IBTC Holdings PLC’s entities have won the Best Asset/Fund Management Company and Best Private Banking Business in Wealth and Society West Africa at the Global Wealth and Society Awards West Africa 2019. The awards further validate Stanbic IBTC’s standing as a leading end-to-end financial services organisation with market leadership across segments, including wealth management, corporate and investment banking, pension fund administration, stockbroking, custody, trusteeship and others.
Stanbic IBTC Asset Management Limited won the Best Private Banking Business in Wealth and Society in West Africa, while Stanbic IBTC Pension Managers Limited picked the Best Asset/Fund Management Company in Wealth and Society also in the West Africa category.
The award ceremony was held in conjunction with a Roundtable Dialogue comprised of private bankers, impact investors, and related parties, at the Eko Hotel Lagos. These new accolades complement the numerous recognitions awarded to both companies in 2018.
“Being singled out among peers is gratifying and we are very pleased to have been selected for recognition as the Best Asset/Fund Management Company in West Africa. It is another prestigious award made possible by our esteemed and loyal customers. Our customers constantly challenge us through their patronage and positive feedback allowing us to push the envelope in innovative service to ensure they get full benefit of partnering with us,” Chief Executive, Stanbic IBTC Pension Managers Limited, Mr. Eric Fajemisin, said.
On his part, Chief Executive, Stanbic IBTC Asset Management Limited, Mr. Oladele Sotubo, expressed the firm’s delight for being recognized by such a reputable and credible organisation from a pool that includes some of the industry giants in Africa. He said the awards further demonstrate Stanbic IBTC’s strength and desire to consistently provide best-in-class financial services solutions across all market segments by leveraging on the expertise and rich heritage of the Standard Bank Group, to which Stanbic IBTC Holdings belongs.
“These awards are testament to our capabilities and competences across all business segments, and speak to our unwavering dedication to consistently deliver innovative and robust solutions to our clients,” Sotubo stated.
The Global Wealth and Society programme opened in London in 2018, according to the promoters, out of the belief that wealth can be a force for good. As such we look for instances everywhere in the world where wealthy individuals, institutions and funds were targeted to make an impact in their local communities or the world at large.
The programme is predicated on the belief that the best financial institutions are able to understand and look after their clients’ personal aspirations as well as family and business interests through exceptional service, conducted with integrity, a deep empathy for its clients’ needs, and superior and timely product innovation resulting in the preservation and expansion of the clients’ wealth in their lifetime.
Organizers of the awards, Global Wealth and Society, said recipients of these awards underwent a stringent and comprehensive evaluation process and that the selection of Stanbic IBTC Asset Management Limited was based on three major factors which distinguished the firm among its peers and they are; its being a national pioneer in ethical financial products and alongside its Imaan fund based on Sharia principles, and its Ethical Fund is Nigeria’s first quoted socially responsible mutual fund and accounts for one third of the Ethical Funds Sector in Nigeria.
Stanbic IBTC Money Market Fund is the institution’s most profitable product as well as the largest open-ended mutual fund in Nigeria and Socially Responsible Investment Funds and its customer-centric strategy drove strong Assets Under Management (AUM) growth for firm.
Stanbic IBTC Pension Managers Limited, on the other hand is the country’s largest pension fund administrator, with a proven record of finance tracking and the protection of investments. The company’s Retiree Fund 4 was the best performing fund in its category for 2018, with a YTD return of 15.54% compared to the average of 12.66% for Retiree Fund 4 in Nigeria. The company currently manages the largest Retirement Savings Account Fund (RSA) in Nigeria and is consistently providing products and services that meet customer, statutory and regulatory requirements. In addition to this, the PFA has continued to attract new clients, recording strong growth in AUM and a jump in high net worth clients in 2018.