Today, 25 May 2017, Standard Bank celebrates its silver anniversary in the Isle of Man, marking a historical milestone for the business since its arrival in the Island in May 1992.
The African bank will mark the occasion in conjunction with the continent celebrating its annual “Africa Day”, which signifies the day when the Organisation of African Unity was formed in 1963.
The Isle of Man, along with Jersey, became home to Standard Bank’s Wealth International division in 1992 following its acquisition of the merchant bank, Brown Shipley. Both in the Island and across the African continent, the business provides a wide range of banking and wealth management services to private indviduals and corporates. It now employs 125 Islanders at its purpose-built headquarters at One Circular Road, and is proud to have been able to support local employment for so many years.
It boasts a high retention rate for staff which includes a number of employees who have been with the bank for its entire 25 years in the Island. Chris Till, CEO of Standard Bank Isle of Man, who joined in 1996, 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 part in the business in the Island as well as, in a small way, contributing to improving lives and prospects across Africa.”
Continuing to contribute to the Isle of Man economy, last month Standard Bank Wealth International published a strong set of results for 2016, which revealed that Headline Earnings had increased by 18% to ?27.9 million year on year, and deposits had grown by 20% to ?4.8 billion.
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 the Isle of Man. 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 the Isle of Man, which is respected worldwide as a premier international financial centre. As we reach this important milestone, I would also like to take this opportunity to thank everyone connected to the business, not least our staff and clients, for their essential contribution with whom we will be celebrating our anniversary with a numer 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 Craig’s Heartstrong Foundation, Crossroads for Carers, Manx Cancer Care and a number of charities with connections to Africa. It has also supported Manx National Heritage in assisting with developing a boardwalk area at Cregneash.
The bank is also supporting locals events this week through the sponsorship of ISLEXPO, and is also the main sponsor of the Isle of Man Commonwealth Games Association Golf Day to assist in raising funds to support sending Team Isle of Man to the Commonwealth Games in the Gold Coast in 2018.
