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Derrick
04-04-2012, 02:19 PM
STANLIB is an asset manager based in Johannesburg with a footprint in 7 African countries. The company was formed in 2002 when Liberty Life and Standard Bank’s asset management and wealth businesses merged. 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 2010, STANLIB had over R317.8 billion in assets under management.

STANLIB was acquired in 2007 by Liberty Life. They are core contributors to the Liberty Wealth vision of complementary financial solutions across a single platform. Wealth products are designed to meet diverse needs in South Africa, Africa and beyond. Full Liberty control completed a process that began in 2002 when Liberty Life and Standard Bank merged their asset and wealth management interests to form STANLIB.

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: 15 investment franchises were formed, each run by autonomous team responsible for best-of-breed solutions and superior performance. That year the wealth business (the unit trust ‘product factory’) 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.

Source: Wikipedia (http://en.wikipedia.org/wiki/Stanlib)

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