Johannesburg, South Africa; 30 November 2018 

aThe Black Management Forum (the BMF) which is at the forefront of advocating and lobbying for transformation in Corporate South Africa is pleased with the appointment of Peggy-Sue Khumalo as the Chief Executive Officer of Standard Bank’s Wealth Division in South Africa. Ms Khumalo’s extensive background and experience in financial services and investments positioned her as the best choice for this role.

“We are pleased and excited about Ms Khumalo’s appointment. It is very gratifying and refreshing to see that there are still companies who regard transformation as a business imperative and continue to make concerted and deliberate efforts in ensuring that they advance transformation where it matters most, at executive level,” said the BMF President, Andile Nomlala.

In September, Standard Bank announced its commitment to increasing its representation of women in executive positions in its SA operations from 35% to 40% by 2021 and to increase the number of women in chief executive positions in other African countries from 10% to 20% over the same period.

“The BMF is encouraged by the transformation journey taken by Standard Bank. They have exhibited their seriousness about succession planning and respect for black talent and leadership. We need to continue to build a critical mass of black executives of Ms Khumalo’s calibre,” continued Nomlala.

The BMF extends its well wishes to Ms Khumalo and pledges its unwavering support to her as she ascends in her new role next year.

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About the Black Management Forum

The Black Management Forum (the BMF) has been in existence for 42 years. It is a thought-leadership organisation with the main purpose of influencing socio-economi transformation in our country, in pursuit of socio-economic justice, fairness and equity. The BMF stands for the development and empowerment of managerial leadership and the creation of managerial structures and processes that reflect the demographics and values of the wider society.

For more information, please contact:
Anele Ndlovu

Black Management Forum
Head: Marketing and Communications
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