FNB is redefining excellence in private banking and wealth management. This year, Euromoney named the South Africa-based outfit the best private bank in Africa, as well as the region’s best for succession planning and serving ultra-high-net-worth (UHNW) individuals. 

Serving the ultra-wealthy is a complex task for any private bank. Many ultra-high-net-worth families and individuals expect the kind of tailored institutional quality services that, in most cases, only the wealthiest can afford. Many are almost wealthy enough to build their own single family offices (but are not quite there yet). They are demanding, driven, complex, and know good financial advice when they see it.

South Africa’s FNB has long been a regional leader in succession planning. This area of private banking can be tricky to define. What defines excellence when debating how good a financial institution is at helping families transfer ownership and oversight of wealth from one generation to the next? This process might take place overnight. On other occasions, it can take years to complete and be tortuously complex. Either way, preparation is all.

FNB again demonstrated commitment to building out its comprehensive suite of wealth solutions during the review period. The bank has a 42% market share in the domestic wealth space, serving more than 5,500 high net-worth clients.

FNB remains at the forefront of Namibia’s private banking sector, delivering sustainable financial solutions, powerful digital services and superior client relationships that drive long-term prosperity for its clients.

Last year was marked by innovation and implementation for 2024’s winner of the award for Africa's best bank for philanthropic advisory: FNB.

FNB is this year’s winner for Africa's best bank for discretionary portfolio management. Not only did the regional lender’s discretionary solutions deliver a strong performance compared with its peers, but the bank also continued to innovate to meet new client needs in 2023.

As part of one of South Africa’s biggest banking groups, FNB’s private wealth offering provides clients with advice across local and offshore portfolios to help them leverage their assets at every stage of their life.

FNB wins the award for Africa's best private bank for ultra-high net-worth this year. The pan-African lender’s distinctive offering for the super wealthy demonstrates its ability to serve these clients.

FNB has put succession planning at the heart of its private wealth proposition, taking the view that all clients should have access to the service, regardless of income or balance-sheet value. It considers the needs not only of the existing client but also the aspirations of the next generation.

Wealth transfer and succession planning advice and services should be at the core of a private bank’s offering, demanding a unified, integrated approach to providing clients with experienced and expert advice across assets, business structures and local and offshore jurisdictions.

Environmental, social and governance-focused investing has become a key priority for institutional investors globally over the past few years, leading to a rapid expansion in the universe of ESG-labelled investment products and funds.

Amid stiff competition, FNB once again rises to the top in the judges' assessment based on its strength and distinction in key areas including products, innovation and technology, and client service and delivery, making it Africa’s best private bank for discretionary portfolio management.

Amid turbulent times, the quality and timeliness of investment research takes on greater importance for clients as they try to navigate market volatility and mitigate risk across their portfolios.

Across products, innovation and technology, client service and delivery, FNB’s digital banking offering is consistently one of the best and most advanced in the industry, supporting the judges' unanimous determination that it be recognised this year as Africa’s best private bank for digital.

As the central bank awards its first new banking licences in 20 years, the big four will find it harder to justify the fees that have underpinned their profitability. The newcomers promise technology will facilitate cheaper banking services and tackle inequality.

The slow and steady rise of high net-worth individuals across Africa has piqued the interest of wealth managers. But who has the upper hand – regional players close to their clients, or global names with solid reputations?