One of the key roles of the CEO is therefore to be owner and custodian of the vision. Inside this new Nedbank, Brown managed the Property and Asset Finance Division that formed part of a four-way merger with businesses from BoE, Nedbank, NIB and Cape of Good Hope. Knott-Craig: People lead instinctively and intuitively, and I know that sounds very general, but I don’t think people lead in an academic sort of way. What fascinates me is that there is always so much you can do in business, irrespective of what the outside environment is.”, Brown ultimately believes: “At the end of the day, it does not matter what you pay people unless you enjoy coming to work every single day, which means you enjoy what you do, you enjoy who you do it with, you enjoy how you are treated. As he sees it another critical function of the CEO is to focus on creating a “values driven” culture and organisation. ... Jaco van Wyk on being the CEO’s business partner. Nedbank Group won 3 financial reporting awards from various reputable institutions such as Investment Analyst Society, Chartered Secretaries, Nkonki/Financial Mail, etc. He has a great appreciation for this. In Central and West Africa they partner with Ecobank and this relationship has deepened considerably. Yet another crucial role of a CEO is to make sure you have the right people in your team and that they are on the right seats. Of course they intend to execute on this. Not all organisations focus so intensely on creating a values-driven organisation, perhaps because deep down they just don’t believe it will have a significant impact on their ultimate performance. Leadership Mike Brown Nedbank. Measurement, monitoring and tracking is very important in any organisation according to Brown. Now that Brown has been in the hot seat for almost three years, what has he learnt, discovered or been surprised at? He is the Co-Founder and CEO of Leadership Platform. Nedbank's primary market is South Africa. 0 0 0 However, if asked he would advise a young or newly appointed CEO as follows: “First of all you have to be clear as to the role of the CEO of any organisation and the way I see it and what we are trying to build here is an organisation that is vision led and values driven. I'll bring positive impact in the company, and make sure the company is doing a great job to assist their customers in a positive way . The Centre segment consists of various support services. For the first period of his tenure, the investment community often wanted to know into what new direction Brown would take the bank. He had to learn quickly how to interact with people and manage relationships because technical and functional knowledge just wasn’t adequate any more. For example, you walk into a place, you will have a perception of that place before you go there, but even as you’re walking […], Call: +27 (0)12 653 3022 The strategy of the bank would simply evolve under the leadership of the Executive team. His father, grandfather and an uncle were bankers. for each of the 2 years in a row, ie in 2010 and 2011. Mfundo Clement Nkuhlu, 53 Chief Operating Officer & Executive Director: Nedbank Group Ltd., Nedbank Ltd., Ecobank Transnational, Inc., Banco Único SA: Iain G. Williamson, 49 Non-Executive Director Partner Content. Holds 627 508 Nedbank Group Limited ordinary shares. Authorised financial services and registered credit provider. Nedbank announced Boardman’s retirement date and Brown as his internal replacement, almost a year before, in the middle of a recession. Nedbank Group is a financial services group in South Africa offering wholesale and retail banking services as well as insurance, asset management, and wealth management.Nedbank Limited is a wholly owned subsidiary of Nedbank Group. These invaluable experiences taught him not only about the complex technical aspects of merging banks, but also the traps leaders can step into as well. Mike Brown, CEO of Nedbank, comes from a family of bankers. A lot has happened since, as Brown explains: “The Nedbank today is a significantly better organisation in all spheres than two or three years ago, whether you look at it from a shareholders performance lens, a staff engagement and values journey lens, a client lens, a regulatory lens or what we do in the community.” Their vision to become Africa’s most admired bank with sustainable long term success is built around these five components – shareholders, staff, clients, regulators and communities. Yet, he and several of the team members had worked alongside Boardman for several years, jointly carving out the bank’s strategy, so why the need for sudden change? A key challenge Brown and other banking leaders face moving into the future is to lead in an environment of regulatory and economic uncertainty, and to balance short term performance with long term investment – focusing on capital and liquidity, yet growing and building sustainability for the long term. One hopes Brown would repeat this in the future as doing so will entrench further their mature organizational culture and it is the ultimate proof of great leadership – multiplying future leaders. Brown says: “If you set the aspiration of being vision led and values driven and you push the ‘leading for deep green’ journey, you have to figure out how to measure, monitor and track or evaluate progress.” They came across a specific survey that they have been using consistently for the last five to six years as a measurement system to track their journey around culture and values, “with the outputs being things like values matches and an entropy score in the form of a percentage point”, explains Brown. It is so noteworthy in fact that we were contacted by a very persistent young man who was adamant that we needed to sit with Samson so that we could share Samson’s story in this forum. Nedbank Group was founded in 1973 and is … HSBC is an opportunity to accelerate the delivery of our vision but if it doesn’t accelerate that is also okay. All Rights Reserved. A lot has happened since, as Brown explains: “The Nedbank today is a … He was placed in the financial services division to eventually audit banks, which resulted in a job offer from NBS bank in the early 90’s. Executive Management Personal Find the Right Solution for You ... Nedbank Swaziland Limited Reg No CB39/1974. Mike Brown – the CEO of Nedbank (South Africa’s fourth largest bank) – was on a salary of R28.7m in 2012, increased to R 32m in 2013 and last year received a 7.7% increase putting his CTC at a delicious R 35 million (Thirty Five Million Rand)! He stayed with NBS until today, though of course NBS changed through several acquisitions along the way. His entrance into banking, though fairly coincidental, was probably evident. Nedbank CEO Mike Brown – R152,480 a day Brown earned a basic salary of R8.1 million, and scored bonuses worth R13.75 million. In this article I share examples and will refer to the underlying principle as the “concurrent wave”. We know for absolute certain that no Nedbank systems or Nedbank bank accounts are at risk. The reason for this is that everyone, including Boardman, would be the first to admit that the rescue was a team effort. ‘Economic damage is greater than first thought’ – Nedbank CEO Mike Brown 26th January 2020 24th January 2020 by Linda van Tilburg Finance Minister Tito Mboweni responded this morning to criticism from the business sector attending the World Economic Forum meeting in Davos Switzerland about the pace of structural reform of the economy saying that a process like this does take time. Nedbank (Group management, Nedbank Wealth :red_cross: Group managing executive: Iolanda Ruggiero Email: iolandar@nedbank.co.za, Rest of Africa Group managing executive: Mfundo Nkuhlu Email: mfundok@nedbank.co.za, Nedbank Retail and Business Banking Group executive: Philip Wessels Email: philipw@nedbank.co.za, Nedbank Corporate and investment banking Group managing executive: … Good to have you here, Mike. Michael William Thomas Brown - Chief Executive Appointed: June 2004 as Chief Financial Officer and March 2010 as Chief Executive Their strategy to expand into the rest of Africa has evolved significantly. "The best CFOs are intellectually persuasive without being arrogant," says Nedbank CEO Mike Brown, a former Chief Financial Officer himself. As CEO of Nedbank and a leader in the current dynamic, fast paced, constantly moving business and sociopolitical environment, Brown sees it as an opportunity. […], Like many of you, I love this country. We have one of the most stable and experienced management teams in the industry, working together with the singular vision of building Africa's most admired bank. Brown said that not for one minute did he want to rush into the position sooner than planned, because it would not be beneficial for anyone. He feels “the world is in a very difficult place right now, economically, with lots of challenges everywhere. Tshifhiwa G Ramuthaga Pr. Stuart Cummins, chief executive of Nedbank Private Wealth International, added: “I am delighted that Andrew and Jeremy have chosen to join us. Leadership Platform is a specialist leadership development consultancy, focusing on creating measurable impact to the bottom line through the enhancement of leadership understanding and engagement. What the organisation got with Brown was absolute continuity, thus placing the team and Nedbank before any personal ambitions and egos. Mike Brown, Nedbank CEO Nedbank has published its integrated annual report for 2018, showing how much its executives were paid – including CEO, Mike Brown. Asked 26 May 2019. His father, grandfather and an uncle were bankers. Vision, Values & Strategy Nedbank is vision-led and values driven. It […], Leaders should strive to always be aware of “another side” to situations. © 2015 Leadership Platform. The remuneration of leaders is linked to their ability to improve values matches and cultural entropy, as part of their performance appraisals. And this is a universal truth that all great leaders understand. Executive Committee Meet the Nedbank Namibia Executive Committee. The announcement did not affect the share price in the least. Email: info@leadershipplatform.com. By subscribing you will be updated with the latest insights and news from us. What advice would you give the CEO of Nedbank about how to improve it? The bank … I suppose leaders have to find the opportunities for their businesses within those challenges, and focus your people and leadership team on things they can control and make a difference to. (Twitter: @AdriaanG_LP), The leader determines performance levels by imposing believable expectation standards that are believed and valued by all. We never spam. South Africa’s economic future is closely linked to the structural reforms which will bring about reliable and affordable electricity supply, said Nedbank Group CEO Mike Brown. Do you recognize some areas in yourself or your team that need improvement? Also significant about Nedbanks leader was his part in an exemplary handover from one CEO to the next. He also set aside two months of this period to attend a course at Harvard, using some of this handover period for personal leadership development and enrichment. Tshifhiwa G Ramuthaga Pr. Nedbank is known for their strong emphasis on values, a journey that resumed almost eight years ago, and that internally is branded as “leading for deep green”. Broken down, Mike Brown’s package looks like … We know now that the HSBC deal did not happen, which is regrettable as few leaders may be more prepared for such a deal as Brown. New Details from Nedbank CEO: Mike Brown, CEO of Nedbank, had the following details to share in an interview with CNBC Africa : “We have done everything in our power to contain the incident. He is the Co-Founder and CEO of Leadership Platform. Our meeting happened while the HSBC deal was on the cards, but shortly after fell through. Nedbank has released their annual report for 2018 which revealed how much their executives earned including Nedbank Chief Executive Mike Brown according to BusinessTech. So there were no real surprises. They could well expand more in these areas through acquisition and other means. When it did not happen there was, as Brown says “a lot of inward reflection around the importance of making sure that we deliver, so that there can never be any doubt in anybody’s mind about why HSBC did not do the deal.” Brown feels that their performance over the last few years indicates that the decision to not go through with the deal had nothing to do with Nedbank. Upvote. In SADC and East Africa they have expanded the Nedbank franchise, with businesses in Zimbabwe, Lesotho, Namibia and Malawi. Their approach towards stakeholders was as follows: 1) We believe that our business as it currently stands has an exciting vision and compelling strategy; 2) We refer you to the stock market where our share price was a top two banking stock over the last two years – proof that we are okay on our own; 3) We have a vision of building Africa’s most admired bank. Exceptional academic achievements certainly bolstered these early opportunities and, at about the age of thirty, he was appointed MD of BoE Corporate. 3 answers. His leadership abilities were no doubt accelerated by experiencing three mergers along the way – NBS/Boland; BoE/NBS Boland; and finally the merging with Nedbank. For Nedbank the future holds a challenge of how to grow business in Africa, while continuing their constant journey of aligning current and desired values inside Nedbank, to create a culture that is “facilitative of their organisation being more agile, mobile and competitive”. Brown continues the legacy of an organisation that is vision led and values driven. The average Nedbank monthly salary ranges from approximately R 4 243 per month for Administrative Assistant to R 45 758 per month for Operations Manager. He qualified as a chartered accountant and, like so many CA’s, joined Deloitte & Touche to do his articles. By subscribing you will be updated with the latest insights and news from us. Crucial to the journey are the values that the leadership team truly live by and the behaviours that they portray. Absa CEO Maria Ramos was paid a total package of R37.6 million for the 2017 financial year, almost matching what Nedbank CEO Mike Brown earned. Mike Brown, CEO of Nedbank warns that this will make it increasingly difficult to borrow money around the world and in the COVID-19 era more will be expected from banks. And finally, they have employees that they have lost but came back, many of them ascribing their return to the positive culture of Nedbank. Some traps: Too much focus on the spreadsheets and not enough on the people (clients and staff); too many consultants; and it is easy to become too internally focused. Email Adriaan on adriaan@leadershipplatform.com for more on creating “Leadership Fit” leaders that generate successful movement (performance) inside your organisation. CIO, MBA-GIBS Visionary CIO Award winner. She then dedicated even more time to a Honours degree in Operations Research. About two months before Boardman left they sat down and crafted a detailed plan on how he would say farewell to Nedbank and how Nedbank would thank him for a job well done. Meet the Nedbank Namibia Board of Directors. He was also taught “to appreciate opportunities that come one’s way in life”. Not only did we have to level the political playing field but […], Q&A: BRLP: How do you lead? What has in a way surprised him is “the role-modelling that happens in an organisation off the behaviours of the leadership group”, says Brown. Brown learnt from his father that “one only gets one chance at today”, meaning one has to do one’s best every moment of every day. He had significant experience and exposure to banking in general and Nedbank in particular. Managing Executive - Nedbank Card, Payments and Transactional City of Johannesburg. Brown believes an important part of the CEO’s job is to be ambitious for the company, not yourself. Leadership Platform is a specialist leadership development consultancy, focusing on creating measurable impact to the bottom line through the enhancement of leadership understanding and engagement. Other ways of measuring the health of their internal culture also confirms the suggested improvement, again giving them different lenses through which to measure culture improvement. I think we are number two in year to date one and three, and number one over five years – a good outcome from a shareholder value creation perspective.”. The rest of his … This required extensive communication, road shows, facilitated conversations and exercises with the Exco team, and much more. Nedbank appoints new CFO The role of the modern day CFO is evolving, extending outside of the world of finance as the pace of fin tech gets faster and more complex. Their appointments add wide-ranging expertise to the board and I look forward to working with them both.” Jeremy Wilson recently retired as vice chairman of Barclays Corporate with Barclays. The next youngest person on his Executive team was over forty. Nedbank Group chief financial officer (CFO) Raisibe Morathi has resigned from the company and will join Vodacom as its Group CFO from 1 November 2020. He had exposure to various parts of the operations, had been the CFO for five to six years and the transition from the previous CEO to him was seamless and exemplary to say the least. To have been a mature and wise one as they are, for now, chasing strategy... Nedbank is vision-led and values driven more than 15 years to their ability improve! Handover, healthy organisational culture and organisation of the CEO is to be owner and of! Relationship has deepened considerably their strategy, but believed with HSBC the vision could be accelerated the Nedbank. 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