Standard Bank’s Chris Stead, Head of Portfolio Management and James Hibbs, Portfolio Manager, have achieved distinction in the Private Client Investment Advice & Management (PCIAM) examination.
Mr Stead and Mr Hibbs undertook the examination in preparation for the introduction of The Financial Services Authority’s Retail Distribution Review (RDR) which came into effect on the 31st December 2012.
PCIAM is a qualification covering all aspects of private client advice in the areas of securities, investment, compliance, derivatives and operations and surpasses the step-change requirement of a benchmark qualification as set out in the Financial Services Authority’s RDR Consultation Paper.
Deon de Klerk, Standard Bank’s Head of International Private Clients said: “Standard Bank prides itself on the quality of its people, and our commitment to continuous learning and development is testament to our belief in this strategy, our people and our clients. Chris and James’ notable achievement is a credit to each of them, as well as to the Bank, and we congratulate them in coming in the top 4% of this examination paper”.
Standard Bank’s employees who advise or deal in securities, derivatives or packaged products have all achieved, or are in the process of achieving, accreditation to become fully compliant and able to bridge any gaps between the current and the new RDR and RFA standards.
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