Type Public Area served Africa Founded 2002 | Revenue R489 million (2012) Number of employees 650 | |
Key people Seelan Gobalsamy (CEO)Saci Macozoma (Non-executive chairman) Products Asset managementWealth management CEO Seelan Gobalsamy (1 Mar 2014–) Subsidiaries STANLIB Asset Management Limited | ||
Stanlib launches region s first real estate trust
STANLIB is an asset manager based in Johannesburg with a footprint in 7 African countries. The company was formed in 2002 as merger of Liberty Capital Asset Management and Standard Corporate and Merchant Bank Asset Management which at the time were subsidiaries of Liberty Holdings and Standard Bank respectively. It is the biggest unit trust company by market share, managing capital for over 400,000 clients. It runs the oldest existing unit trust in South Africa. As of 2012, STANLIB had R528 billion in assets under management.
Contents
- Stanlib launches region s first real estate trust
- How stanlib fahari reit will be invested kenya s real estate ep26
- History
- African operations outside of South Africa
- References
How stanlib fahari reit will be invested kenya s real estate ep26
History
STANLIB's roots go back to 1862 when the Standard Bank of British South Africa was founded in London. It became a South African bank in 1962. Life assurer Liberty Life was launched in 1957. The first unit trust was launched by Guardbank Management Corporation Ltd in 1970. Operations were expanded to Uganda and Botswana in 1992, Namibia in 1994, and Swaziland and Kenya in 1999. Lesotho followed in 2001.
STANLIB (a merger of seven Standard Bank and Liberty Life businesses) was launched in May 2002. The amalgamation of various unit trust ranges followed in 2004. The Safika BEE consortium acquired a 25% stake in STANLIB in 2003 and Saki Macozoma became the chairman. Another BEE grouping (Quantum Leap Investments) bought a further 12.6% a year later. Effective BEE ownership had reached 33% by 2004. Constant product innovation, in South Africa and across Africa, contributed to sustained growth after 2002. In June 2006 corporate reinvention transformed STANLIB, with 15 investment franchises being formed. In the same year, STANLIB's wealth business was integrated with asset management functions. Later in 2006, a distribution and client support function was established in the UK, paving the way for the development of products targeted at international investors.
In 2007, STANLIB was acquired by Liberty Life.
African operations (outside of South Africa)
STANLIB Africa has been operational since 1997. Since its inception, STANLIB Africa has secured retail and institutional mandates in 8 countries outside South Africa, the hub of the group's investment and technical expertise.