Peggy-Sue Khumalo is CEO of Standard Bank's wealth division - 5 things to know about her

Peggy-Sue Khumalo
Peggy-Sue Khumalo

Peggy-Sue Khumalo has had an impressive career, from being crowned Miss South Africa in the 90s to being an accomplished investment banker.

After her longstanding career at Investec, she has now been appointed as the CEO of Standard Bank's wealth division in South Africa.

READ MORE: Ethiopia elected its first female President, Sahle-Work Zewde - here are 6 women in Africa before her

While she has kept her personal life fairly private, this is what we know about Peggy-Sue:


Peggy-Sue was raised by a single parent KwaZulu-Natal. In an interview with 702 FM she said her mother worked a domestic worker and her first job was also as a domestic worker. She said she attended boarding school in Pietermaritzburg but before she lived with her mother “on somebody else’s property”.

READ MORE: Miss SA finalist, Noxolo Ndebele starts her own beauty pageant (with a twist) and fashion line

Miss South Africa

A young Peggy-Sue had set her ambitions on Miss South Africa and was crowned in 1996. She was the third black Miss South Africa, three years after Jacqui Mofokeng was crowned as the first in 1993.


Peggy-Sue was offered a scholarship to study economics by former president Nelson Mandela sponsored by former Investec CEO Stephen Koseff. According to Channel24, she subsequently earned a BA Honours degree in Economics and Political Science, and a Master’s degree in Economics from the University of Manchester.

READ MORE: Get to know SA's first black female plastic surgeon - Dr Gloria Tshukudu

Almost 20 years at Investec

According to Business Live, Peggy Sue started her investment career Investec and spent 17 years at the company. Channel24 reports that she started with a Public Sector and Black Business Portfolio at Investec Bank UK in its asset management division before returning to South Africa.

READ MORE: She is more than just Akon's sister - meet the woman behind the musician's billion rand brand


Apart from her mother, Peggy-Sue has started a family for herself. She is married to radio anchor Xolani Gwala and is raising two girls.

Sign up to W24’s newsletters so you don't miss out on any of our hot stories and giveaways.

We live in a world where facts and fiction get blurred
In times of uncertainty you need journalism you can trust. For only R75 per month, you have access to a world of in-depth analyses, investigative journalism, top opinions and a range of features. Journalism strengthens democracy. Invest in the future today.
Subscribe to News24
Voting Booth
Now that it's the New Year, what are you looking forward to?
Please select an option Oops! Something went wrong, please try again later.
The vaccine arriving in SA
32% - 126 votes
Going back to the office/ campus
3% - 13 votes
Going on a trip overseas
10% - 37 votes
Nothing, I don't expect 2021 to be any better than 2020
47% - 182 votes
Treating myself to a shopping spree
3% - 10 votes
I'm planning a big party to celebrate as soon as Covid is over
5% - 20 votes