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Getting ready

18 May 2004 Angelo Coppola

Nedbank’s corporate and investment banking businesses recently launched their first post-graduate development programme, aimed at empowering graduates in the financial services industry.

This initiative forms part of the group’s endeavours to build its professional capability in terms of the Financial Sector Charter and other national initiatives.

“This country is filled with individuals who posses incredible talent and aptitude and it is up to the industry to find those who demonstrate the commitment and drive, necessary to enhance the future of financial services in South Africa,” says Ivan Mzimela, director of Group Human Resources at Nedbank. 

“Six months ago, when we initiated the Learnership Programme, we looked at increasing the bank’s representation of African, Indian and Coloured employees and this remains a key focus for the business going forward.

The graduate trainees will be based at 135 Rivonia Road, and their development programme will involve a rotation through all the corporate and investment banking divisions of the bank including Treasury, Corporate Finance and Business Banking.

Emphasis will be placed on the development of technical knowledge and the emotional intelligence required to succeed in the corporate environment.

“In addition to the rotational training within the business, the graduates will take part in the South African Futures Exchange (SAFEX) training - both of which involve rigorous exams.”

In order to successfully immerse the graduates within the company’s corporate culture, the bank has assigned mentors and host managers who will provide guidance to the individuals throughout their training.

The graduates have been employed on contract for a 12-month period and will be considered for permanent employment at the end of the programme. The bank intends to continue this graduate development programme next year with equal success.

Quick Polls

QUESTION

There are countless articles written about South Africa’s poor retirement outcomes. Which of the following would you single out as the biggest contributor to local savers not accumulating enough to buy an adequate and sustainable pension?

ANSWER

Lack of personal accountability
Poor participation in formal retirement funds
Reluctance to seek financial advice early on
SA’s high unemployment rate
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