Standard Bank celebrates silver anniversary in Jersey

Thursday 25 May 2017

A bank that has 1,211 branches world-wide and employees almost 55,000 people is celebrating 25 years in Jersey.

Standard Bank Wealth International business set up in the Island in 1992 following its acquisition of the merchant bank, Brown Shipley. It's now housed in purpose-built headquarters in La Mottte Street and employs more than 200 Islanders.

Twelve employees have been with the business for its entire 25 years in the Island. Chris Stead, Head of International Portfolio Management, who joined in May 1992 said: “I feel very privileged to have spent the vast majority of my career at Standard Bank. The team spirit and opportunities offered have been second to none and I am proud to have played a small part in improving lives and prospects across Africa.”

The bank choose to tie its celebrations in with Africa Day - 25 May - the day the Organisation of African Unity was formed in 1963.

Continuing to contribute to the Jersey economy, last month Standard Bank Wealth International published a strong set of financial results for 2016, which revealed that Headline Earnings had increased by 18% to £27.9 million year on year. Deposits had grown by 20% to £4.8 billion and Assets Under Management had risen by 20% to £2.2 billion year on year.

Will Thorp, Chief Executive of Standard Bank Wealth International, said: “Standard Bank chose wisely when it decided to base part of its international banking arm in Jersey. For the past 25 years, we have grown and prospered with the Island and, in turn, both have made a significant contribution to the prosperity of Africa.

“Our recent results show that Standard Bank Wealth International is in a strong position and that is in no small part due to our longstanding relationship with Jersey, which is respected worldwide as a premier international financial centre. As we reach this important  milestone, I would like to take this opportunity to thank everyone connected to the business, not least our clients and our staff, for their essential contribution with whom we will be celebrating our anniversary on the island with a number of African-themed events.”

Throughout its 25 years in operation, the business has also placed a significant focus on supporting local and African charities, including Durrell Wildlife Conservation Trust, Jersey Cheshire Home and a number of charities with connections to Africa.