PIC welcomes appointment of Standard Bank’s new chairperson

13th May 2022 By: Darren Parker - Creamer Media Contributing Editor Online

The Public Investment Corporation (PIC) has welcomed the appointment of the new Standard Bank Group chairperson Nonkululeko Nyembezi, who will take office on June 1.

Nyembezi’s appointment as a female black chairperson of a major commercial bank is a significant milestone in terms of transformation, the PIC said, welcoming the commitment to diversity shown by Standard Bank with the progression of women at the highest decision-making level.

“We further recognise the positive continued efforts of empowering and hiring black talent within the group,” the PIC said on May 13, adding that the appointment made Standard Bank look like a leader in advancing transformation in the financial services industry, both at a board and company level.

“As a major investor in financial services companies, the PIC believes Standard Bank has set an important benchmark on how transformation should be embraced as an essential pillar in a company’s corporate strategy,” the PIC said.