Sim Tshabalala (born 15 December 1967) is a South African lawyer, businessman and banker. He is the CEO of Standard Bank, a company that has existed since 1863.
The 57-year-old is a fellow of the Institute of Bankers of South Africa, an honorary professor at the Stellenbosch University Business School, and an admitted attorney of the High Court of South Africa.
Sim Tshabalala
Simpiwe Tshabalala, who grew up in a Black family in apartheid South Africa, is now the CEO of Standard Bank Group.
Quick Facts
Full name:
Simpiwe Tshabalala
Born:
15 December 1967 (age 57 years old)
Place of birth:
Hlabisa, Umkhanyakude, KwaZulu-Natal, South Africa
Nationality:
South African
Education:
Sacred Heart College
Alma mater:
Rhodes University Notre Dame Law School University of the Witwatersrand Harvard University
Occupation:
Lawyer, Businessman, Banker
Years active:
1994 – date
Position:
Chief Executive Officer at Standard Bank Group
Siblings:
2
Children:
2
Early Life
Simpiwe Tshabalala was born on 15 December 1967 in Hlabisa, a low-income area in the KwaZulu-Natal province of South Africa. His family moved to Gauteng and raised him in Soweto.
Tshabalala is the eldest of three children. His enterprising parents worked hard to send him to school. His father owned a fried chicken company, while his mother was a nurse. They registered him in a Catholic school run by the Marist brothers.
Education
Sim holds a High School Diploma from Sacred Heart College (then Marist Brothers), Johannesburg. He obtained a Bachelor of Arts degree in Philosophy and a Bachelor of Law from Rhodes University.
Sim studied public international law at the University of Notre Dame and completed his articles at Bowman Gilfillan (now Bowmans).
He completed a Master of Laws at Notre Dame in the United States and was awarded summa cum laude in 1993.
In 1996, Sim completed a higher diploma in Taxation Law from the University of the Witwatersrand. He also completed the Advanced Management Programme at Harvard University in 2006.
Career
In 1994, Sim Tshabalala became an admitted attorney of the High Court of South Africa. He was one of the first young black attorneys at Bowman Gilfillan, a law firm in South Africa.
However, his stint in law was short-lived, even though he always wanted to be a human rights lawyer. After practicing law for a bit, Sim moved into finance. He joined the structured finance division of Real Africa Durolink Investment Bank.
In 2000, Sim joined Standard Bank and has served in many positions. He has risen to the ranks and became the first black chief executive.
He was the head of structured finance for the bank’s Project Finance Division and later became a director. After one year, he joined the group’s executive committee.
In 2001, Tshabalala started serving as the Managing Director of Stanbic Africa. In 2006, he was the Chief Executive of Personal and Business Banking for the Group’s South African operations.
In 2008, Sim became the CEO of Standard Bank South Africa, shortly before becoming one of the three Deputy CEOs of the Standard Bank Group. Standard Bank has been around for over 160 years and operates in 20 African nations.
In 2013, Sim climbed the ranks to become the joint CEO of the Standard Bank Group, serving with Ben Kruger. He became the sole Group CEO in 2017 after Kruger relinquished his role.
He currently serves as the Vice President and Treasurer of the Institute of International Finance and is a Fellow of the Institute of Bankers of South Africa.
Sim is an Honorary Professor at Stellenbosch University Business School and appeared as one of “the 10 Top Bank CEOs” in the 2024 Brand Guardianship Index.
Sim receives a salary of R89 million after his total remuneration package rose by 7.1% in 2024. His income includes R11 879 000 in fixed income and R24 million in short-term incentives, among other benefits.
