Nedbank - Wikipedia Nedbank Nedbank Nedbank Western Cape regional office in Cape Town. Type Public ( JSE : NED ) Industry Banking Founded 1 March 1888 ; 129 years ago ( 1888 - 03 - 01 ) Headquarters Sandton, South Africa Area served South Africa Key people Michael William Thomas Brown ( CEO ) Raisibe Morathi ( CFO ) Mfundo Nkuhlu ( COO ) Trevor Adams ( CRF ) Vassi Naidoo ( Chairman ) Products Financial Services Revenue ZAR : 35,016 Million ( 2013 ) Total assets ZAR : 866.5 Billion ( 2015 ) Number of employees 30,739 ( 2015 ) Website Home Page Nedbank is one of the largest banks in South Africa ; however, it is one of the newest banks to be incorporated. It is headquartered in Johannesburg. Market capitalization was ZAR : 120 billion ( approximately US $9.85 billion ), as of 30 June 2015. Contents 1 History 2 Nedbank Group 3 HSBC buyout bid 4 Ownership 5 See also 6 References 7 External links History The bank was founded in 1888 in Amsterdam as the Nederlandsche Bank en Credietvereeniging voor Zuid - Afrika ( `` Dutch Bank and Credit Union for South Africa '' ). In the same year the bank opened an office in Pretoria, South African Republic ; in 1898 the bank moved its office to Church Square. In 1903 the company was renamed to Nederlandsche Bank voor Zuid - Afrika ( `` Dutch Bank for South Africa '' ). In 1906, the bank expanded and an office in London was opened. The bank split in 1951, renaming its South African part as Nederlandse Bank in Suid - Afrika Beperk / Netherlands Bank of South Africa Limited. The number of South African shareholders increased greatly, and in 1969 the company became 100 % South African - owned after the Bank Mees en Hope sold 20 percent of its shares. The South African part was completely independent. The Dutch part of the bank no longer exists ; it 's currently part of ABN AMRO. In 1992, the name of the bank was changed to Nedcor Bank Limited, of which Nedbank became the largest division. In 1992, Syfrets, UAL, and Nedbank Investment Bank merged to become Nedcor Investment Bank ( NIB ). Old Mutual, Nedcor 's holding company, was demutualised and listed on the London Stock Exchange in 1999. It became a constituent of the FTSE 100 Index. Nedbank acquired the Isle of Man and Jersey private banking business of Robert Fleming & Co. in 2001. The new Nedcor Group was formed on 1 January 2003, combining Nedcor, BoE, Nedcor Investment Bank, and Cape of Good Hope Bank into one legal entity. The Nedcor Group was renamed the Nedbank Group on 6 May 2005. Nedbank headquarters are in Sandton, South Africa. In August 2009, Nedbank bought the remaining 49.9 % of Imperial Bank South Africa, which is now fully owned by Nedbank. Nedbank Group Nedbank is the holding company of all Nedbank 's businesses, subsidiaries and affiliates. Those subsidiaries and affiliates include the following : Nedbank local subsidiaries ltd Peoples Mortgage Ltd Nedcor Investments Ltd Nedgroup Investment 102 Ltd Depfin Investmentss ( Pty ) Ltd BoE Holdings Ltd Nedbank Ltd foreign subsidiaries Nedbank ( Lesotho ) Ltd Nedbank ( Swaziland ) Ltd 65 % Nedcor Trade Services Ltd Foreign Nedbank Group subsidiaries NedEurope Ltd MN Holdings Ltd Nedbank ( Malawi ) Ltd 97.1 % MBCA Bank ltd 70.9 % NedNamibia Holdings Ltd Nedbank Namibia Ltd Nedgroup International Holdings Nedbank Private Wealth Ltd, formerly Fairbairn Private Bank ( IOM ) Ltd Nedgroup Trust Ltd, formerly Fairbairn Trust Company Ltd Alliance Investments Ltd Boe Investment Holdings Ltd BoE Private Client Investment Holdings Ltd Nedgroup Structured Life Ltd, formerly BoE Life Ltd Nedgroup Life Assurance Company Ltd Nedgroup Investment Holdings 101 Ltd Nedgroup Securities ( Pty ) Ltd NBG Capital Management Ltd NIB Blue Capital Investments ( Pty ) Ltd Nedgroup Private Wealth ( Pty ) Ltd, formerly BoE ( Pty ) Ltd Trust and securities entities Syfrets Securities Ltd Nedgroup Private Stockbrokers ( Pty ) Ltd, formerly BoE Stockbrokers ( Pty ) Ltd Nedgroup Collective Investments Ltd Dr Holsboer Benefit Fund Other insurance entities Nedgroup Insurance Company Ltd Nedbank Group Insurance Company Ltd, formerly Nedcor Group Insurance Company Ltd HSBC buyout bid On 23 August 2010, HSBC made an offer to buy up to 70 % of Nedbank in a deal worth R 49.9 billion ( US $6.8 billion ). If the South African government had approved the deal and it had gone through, the buyout would have given HSBC a strong foothold in Africa 's financial services sector. On 15 October 2010 HSBC withdrew its offer to Nedbank following the expiration of the agreed exclusivity period. If the deal had gone through it could have been worth an estimated R45 billion. Ownership The shares of the stock of Nedbank Group are traded on the JSE and on the Namibian Stock Exchange. As at June 30, 2015, the shareholding in the group 's stock consisting of 494,411,956 shares was as depicted in the table below : Nedbank Group Rank Name of Owner Percentage Ownership Old Mutual Life Assurance Company Limited 55.43 Coronation Fund Managers 7.96 Public Investment Corporation 6.29 Nedbank treasury - BEE trusts 3.73 5 Lazard Asset Management 2.72 6 Sanlam Investment Management 1.63 7 Dimensional Fund Advisors 1.62 8 BlackRock 1.60 9 Other Investors via the JSE and NSX 19.02 Total 100.00 See also BoE Stockbrokers List of banks in South Africa Economy of South Africa South African Reserve Bank References Jump up ^ `` Business Report IOL Breaking News South Africa News World News Sport Business Entertainment IOL.co.za ''. Retrieved 2017 - 08 - 31. Jump up ^ `` Request Rejected ''. www.nedbankgroup.co.za. Retrieved 2017 - 08 - 31. Jump up ^ ( 1 ), Nedbank 2012 Interim Report Jump up ^ HSBC to buy up to 70 % of Nedbank, Mail & Guardian, DAVID DOLAN AND KELVIN SOH, 23 Aug 2010 Jump up ^ Chinese Abandon Nedbank Bid, Times Live, By Sapa, 15 October 2010, 4 : 32pm Jump up ^ `` 2015 Nedbank Group Interim Results Booklet '' ( PDF ). Nedbank Group. June 30, 2015. Retrieved February 1, 2016. External links Nedbank South Africa website Nedbank Group website Nedbank Facebook page Banks of South Africa Central bank South African Reserve Bank The `` big four '' commercial banks Absa First National Bank ( FNB ) Nedbank Standard Bank Other African Bank Bidvest Bank Capitec Bank FirstRand Bank Grindrod Bank Imperial Bank South Africa Investec VBS Mutual Bank Sasfin Bank Teba Bank Limited Postbank Development Bank of Southern Africa Land and Agricultural Development Bank of South Africa Defunct 20Twenty African Banking Corporation Allied Bank Colesberg Bank NBS Permanent Bank Saambou Trustbank United Bank Retrieved from `` https://en.wikipedia.org/w/index.php?title=Nedbank&oldid=800253396 '' Categories : Banks of South Africa Banks established in 1888 Companies based in Johannesburg South African brands Companies listed on the Johannesburg Stock Exchange Hidden categories : Use dmy dates from December 2014 Use South African English from December 2014 All Wikipedia articles written in South African English Pages using deprecated image syntax Talk Contents About Wikipedia Afrikaans Español Français Nederlands Edit links This page was last edited on 12 September 2017, at 10 : 56. 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Question: who is the ceo of nedbank south africa
Answer: Michael William Thomas Brown