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. We never spam. Brown explains: “It started with the executive team going through a particular process around leadership, understanding your influence on others, personal mastery, a very defined leadership and culture values journey for the leadership team of the organisation.” They have now been successful in cascading that further down the organisation to thousands of staff. 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. Nedbank chief financial officer (CFO) and executive director, Raisibe Morathi, has resigned after 11 years in the position, the group said in a statement on Tuesday (25 August). We absolutely believe we can achieve this vision with our current base case, but if there is a change in a controlling shareholder we may get there faster. 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. Nedbank has released their annual report for 2018 which revealed how much their executives earned including Nedbank Chief Executive Mike Brown according to BusinessTech. 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. Nedbank CEO Mike Brown – R152,480 a day Brown earned a basic salary of R8.1 million, and scored bonuses worth R13.75 million. (Twitter: @AdriaanG_LP), Wayne Samson’s rise to the office of CEO of Ellies Holdings Ltd. is an interesting and noteworthy story. And finally, they have employees that they have lost but came back, many of them ascribing their return to the positive culture of Nedbank. for each of the 2 years in a row, ie in 2010 and 2011. In SADC and East Africa they have expanded the Nedbank franchise, with businesses in Zimbabwe, Lesotho, Namibia and Malawi. ... Jaco van Wyk on being the CEO’s business partner. 0 0 0 […], Like many of you, I love this country. 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. 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. 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. They could well expand more in these areas through acquisition and other means. It […], Leaders should strive to always be aware of “another side” to situations. Fortunately Nedbank Leadership seems to have planned their communication strategy about this possible deal well. Vision, Values & Strategy Nedbank is vision-led and values driven. 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. 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. Unlike his father who wanted to become a doctor but became a banker instead because of financial constraints, Brown had the opportunity to do what he really wanted to. The Nedbank board of directors is among the most representative in the South African banking sector. Mike Brown, Nedbank CEO Not only did we have to level the political playing field but […], Q&A: BRLP: How do you lead? 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. 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. In 1983 she completed a BSc in Applied Mathematics at the University of Stellenbosch. The bank … The strategy of the bank would simply evolve under the leadership of the Executive team. His father, grandfather and an uncle were bankers. He stayed with NBS until today, though of course NBS changed through several acquisitions along the way. All Rights Reserved. Brown has therefore led older colleagues most of his life and is currently one of the youngest people on the Nedbank Executive. Ecobank bought another bank in Nigeria, called Oceanic and Nedbank supported them in this by providing their holding company with a loan, and so secured the rights to acquire twenty percent of Ecobanks equity. Our meeting happened while the HSBC deal was on the cards, but shortly after fell through. Broken down, Mike Brown’s package looks like … Michael William Thomas Brown - Chief Executive Appointed: June 2004 as Chief Financial Officer and March 2010 as Chief Executive 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. So there were no real surprises. JOHANNESBURG - Nedbank CEO Mike Brown says the world is a long way from feeling like it did before the recession of 2008, and the second half of 2013 is sure to prove that. These are modeled or imitated by the rest of the staff. "The best CFOs are intellectually persuasive without being arrogant," says Nedbank CEO Mike Brown, a former Chief Financial Officer himself. Authorised financial services and registered credit provider. 3 answers. At the time of this interview, the HSBC deal was also on the cards. Executive Committee Meet the Nedbank Namibia Executive Committee. 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. Nedbank's leadership is highly rated. He qualified as a chartered accountant and, like so many CA’s, joined Deloitte & Touche to do his articles. A lot has happened since, as Brown explains: “The Nedbank today is a … Email: email@example.com. (Twitter: @AdriaanG_LP), The leader determines performance levels by imposing believable expectation standards that are believed and valued by all. 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)! 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. Executive Management Personal Find the Right Solution for You ... Nedbank Swaziland Limited Reg No CB39/1974. © 2015 Leadership Platform. ‘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. Email: firstname.lastname@example.org. He had significant experience and exposure to banking in general and Nedbank in particular. In Central and West Africa they partner with Ecobank and this relationship has deepened considerably. 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. By subscribing you will be updated with the latest insights and news from us. 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. 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. The rest of his … At the time of the possible deal they were clear about their strategy, but believed with HSBC the vision could be accelerated. 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. 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. She then dedicated even more time to a Honours degree in Operations Research. You can’t do that on your own, but by the time it is crafted you have to be the one that is out there championing that to internal and external stakeholders.”. His entrance into banking, though fairly coincidental, was probably evident. For the first period of his tenure, the investment community often wanted to know into what new direction Brown would take the bank. From a profitability perspective it is clear that massive resources are often invested unproductively by organisations in order to compensate for lack of cohesiveness and authority in attitude management; lack of common leadership language & believable (believed) leadership models; and […], A few weeks ago I met with a very impressive, very humble, and extremely dedicated leader: Her name is Elsbeth Dixon, the CEO of Common Purpose South Africa. And this is a universal truth that all great leaders understand. Mike Brown – CEO of Nedbank Group Limited, Characteristics, Attributes, and Qualities, Self-Made CEO – Wayne Samson, Ellies Holdings Ltd. 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. The reason for this is that everyone, including Boardman, would be the first to admit that the rescue was a team effort. Measurement, monitoring and tracking is very important in any organisation according to Brown. Of course they intend to execute on this. 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. 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