Nedbank Group
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Sustainability is about ensuring financial prosperity and stability for our investors and staff, integrating social and environmental responsibility for our local communities and the countries in which we operate, and remaining relevant and accessible to our clients
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Sustainability in our African and international operations

Channel Islands

Fairbairn Private Bank (FPB), including Fairbairn Trust Limited, is 70% owned by Nedbank and 30% by Old Mutual. The headoffice is located in Jersey.
 

FAIRBAIRN PRIVATE BANK (FPB)

The business holds banking and on investment licences in both Jersey and on the Isle of Man and also a trust licence in Jersey. FPB has a staff complement of around 120, of which 90 are based on the Isle of Man, with the balance in Jersey and South Africa. FPB is an innovative full-service international private bank, combining banking, fiduciary and wealth management solutions.

Fairbairn Private Bank was the first independently ‘A-rated’ rated British offshore islands bank (Moody’s).

The FPB solution is built on its focus platform – a client delivery platform that integrates FPB’s banking, treasury services, investment dealing and custody services into one simple, seamless package.
 

Corporate social investment
Staff fundraising initiatives resulted in over R130 000 being raised for charity. The four charities chosen by staff for support over a two-year period were the Special Care Baby Unit, St Bridget’s Macmillan Nurses, Jersey Hospice and the Koru Hospital Fund.
 

Looking forward
Having doubled the net asset value for shareholders in the period since acquisition (2001), FPB’s 2007- 2009 business plan continues to reflect strong underlying growth.
 

FAIRBAIRN TRUST COMPANY
FTC is a trust administration company located in Guernsey with 60 staff. It administers around 3 000 trusts, of which about 2 700 have South African links.
 
Some key objectives are as follows:
  • Teaming up with BoE Private Clients (BPC) to exploit opportunities within their respective client bases.
  • Exploring sourcing banking services from FPB and/or Nedbank London.
  • Exploring moving funds from third-party money market funds to the NedGroup Money Market Fund.
  • Working closely with Old Mutual International to exploit change of trusteeship opportunities that arise in South Africa in the wake of the amnesty process.
 

A winning approach


High-profile awareness of the new brand was obtained by its inclusion in the Sunday Times Top UK Best Small Companies to Work For 2005 and 2006 listings. FPB is the first financial services organisation ever to be included in the listing.

In addition, the ‘Best Offshore Bank’ title within the International Investment International Fund and Product Awards was again won by FPB for an unprecedented fifth year. FPB also won in the category ‘Best Commitment to Service’ and was highly commended for ‘Best Internet Service 2006’.

Fairbairn Private Bank has been awarded a prestigious ‘Two Star’ status in the 2007 Best Companies business accreditation system, and was one of only 107 companies across the entire UK to receive this accolade.

Fairbairn Private Bank has been granted the Investors In People Standard, which is an internationally recognised award designed to acknowledge levels of good practice for training and development of people to achieve business goals.
 
              Staff fundraising initiatives
         resulted in over R130 000 being
raised for charity.
 

NEDBANK GROUP INVESTMENTS

Nedgroup Investments (IOM) Limited is a fund management business that offers a range of risk-profiled investment funds investing in both traditionally managed long-only funds and alternative hedge funds.The business has assets under management of US$250 million.

Management, control and administration for both businesses are undertaken by the office based on the Isle of Man.

Investment research and analysis are carried out by the team of Nedgroup Investment Advisers (UK) Limited based at Old Mutual Place, London.

Some key initiatives include the following:
  • Refocusing the Isle of Man business on its key competency, namely asset management.
  • Launching of ALIN in the UK institutional market. This is a tax-efficient mechanism for UK institutions to access hedge funds, and research indicates that there will be significant demand from the target market.
  • Reviewing administration arrangements. An important project is under way to investigate the possible outsourcing of some functions.
  • Further reviewing the NIFX offering.
  • Relaunching Nedgroup investment funds in the South African market.