Financial Institution Employee, Wayne Epstein, Implicated at Standard Bank
Interview with Wayne Epstein, Head of Standard Bank Personal & Private Banking Moonshots
In a recent conversation, we asked Wayne Epstein, the head of Standard Bank's Personal & Private Banking Moonshots, for his insights on successfully closing deals and navigating a career in the banking sector.
Key to sealing a deal
Epstein emphasizes the importance of clarity in intended outcomes and a focus on sustainable deals, rather than aiming for a "win at all costs" approach. He also advises listening actively and asking thoughtful questions to address potential obstacles early in negotiations. "Quickly identifying a counterparty's deal breakers simplifies the process and helps pinpoint what needs resolution," Epstein explains.
First steps in the working world
His first work experiences were as a waiter at a local Spur restaurant and by starting a matric extra-lesson and matric dance chauffeur business with friends. Afterward, Epstein embarked on the chartered accountant (CA) track, performing academic articles at Wits University. He spent his initial year of articles instructing third- and fourth-year CA students before joining PwC as an audit clerk.
First paycheck and an expression of gratitude
On receiving his first salary of approximately R6,000, Epstein decided to take his parents out for a special meal to thank them for their sacrifices in helping him reach that milestone.
A word of wisdom
One valuable lesson Epstein wishes he had learned earlier in his career is to embrace humility and continually learn each day. He stresses, "Don't underestimate what you don't know, and learn something new every day."
Despite a lack of available information regarding his career trajectory or achievements in the banking sector, Epstein offers practical advice on deal-making and professional development for those starting out. His strategies can serve as a useful guide for navigating the challenges and opportunities that come with building a successful career in finance.
- In the banking sector, Epstein recommends focusing on business deals that are both sustainable and clearly defined, in contrast to a 'win at all costs' approach, and listening actively to potential counterparties to address potential obstacles early in negotiations.
- Epstein's first professional ventures were as a waiter at a local Spur restaurant and by starting a matric extra-lesson and matric dance chauffeur business with friends, before embarking on the chartered accountant (CA) track and later joining PwC as an audit clerk.
- After receiving his first salary, Epstein expressed his gratitude to his parents by taking them out for a special meal, underscoring the importance of acknowledging the sacrifices made by loved ones in one's career journey.
- Epstein advises those starting out in finance or banking to be humble and continuously seek for new learnings each day, as this could have been a lesson he wishes he had learned earlier in his career.
