Nedbank Private Wealth receives global recognition for philanthropy

Noxolo Hlongwane, Head of Philanthropy at Nedbank Private Wealth.

Nedbank Private Wealth received top honours as the ‘Best Provider in South Africa for Philanthropy and Social Impact Investing’ in the global 2015 Euromoney Private Banking and Wealth Management Survey.

“The 12th annual Private Banking and Wealth Management Survey – the leading barometer of top service and product providers to the world’s wealthy – was conducted between August and November 2014 by ranking the top private banks across 69 countries. The 2 400-odd survey participants included industry peers – private banks, wealth managers and family offices.”

With over R6,3 billion under management and administration for donors and non-profit organisations, Nedbank Private Wealth is the only wealth manager in South Africa with a comprehensive and established philanthropy offering, and has been advising clients for more than 150 years.

Nedbank Private Wealth’s Philanthropy Office assists individuals and families, corporate and business foundations to give in a structured, impactful and sustainable manner. “For our non-profit clients financial sustainability is the lifeline to resilience, especially in tough times,” says Noxolo Hlongwane, Head of Philanthropy at Nedbank Private Wealth. “Appropriate investment and management of funds enable organisations to sustain their work.”

The Giving Report II, a study commissioned by Nedbank Private Wealth into the giving behaviours and practices of high-net-worth individuals in South Africa, found that nine out of 10 high-net-worth individuals give of their time, goods and money to charitable causes. The report further estimated total giving by individuals at R8 billion in cash in 2012.

“We are honoured to be recognised as a leader in this space, and continue to be committed to developing and strengthening the sector,” says Hlongwane.