“Never doubt the value of a Jewish education,” says RMB wunderkid

“There are many successful and talented nominees here today. I really can’t see how I deserve to stand out,” said Rob Leon, 38, the youngest ever head of investment banking at Rand Merchant Bank (RMB), on winning the Absa Business Leadership Award at the Sandton Convention Centre on 19 November.

“But I appreciate this. There are many ways I could try and justify why I’m here tonight. The biggest reason is that my parents made a great call. They put me and my sister into the King David school system. Even though it was a real financial ask, never underestimate the power of a great Jewish education and an even stronger Jewish neighbourhood,” Leon told attendees at the Absa Jewish Achiever Awards.

“There’s great opposition out there, but we’re really proud of what we do and our client set,” said Leon of RMB, the investment banking arm of the First Rand Group. “We have clients across all of corporate South Africa, from some of the biggest entities out there to some of the up-and-coming smaller ones that are looking to grow.”

Leon said he had been guided by some unbelievable leaders, managers, and mentors, who had helped him grow throughout the organisation. “I’m trying to carry on their mantra. I’m really proud of the organisation and the values it instils in our leaders and people. Our focus [extends] from the corporate side to infrastructure, property, and resources throughout the country.”

He said RMB aimed to make a difference, enhance its clients, and be there in good and bad times to offer advice, lend money, or take ownership stakes. “I try to run a decentralised system. It’s important that my team members are allowed to grow, build, and make decisions on their own. I’m not a micromanager at heart. I really love hiring people. I’m there to be additive, to help guide them, and be around when things are needed. This is certainly what got the best out of me over many years.”

Leon said he was fortunate to work at RMB with some talented people. “It’s a dynamic place with rich history, an entrepreneurial energy, and a passion for client service. It’s incumbent on me to continue to promote this and everything we do with our clients, employees, and broader stakeholders.

“Two years into my current role, my goal is to make sure that we continue to grow, build out our franchise, and make sure we assist the country. There’s a lot of opportunity for the private sector to lead in terms of helping to rebuild our infrastructure base, taking this country forward and creating jobs.”

Leon said the value added by investment banks to society had at times been rightly questioned. “We all know the challenges that we as a community and a country are required to confront. I’m hopeful that the banks, along with the rest of the private sector, can help solve them. We need to be deliberate in our actions, and tackle the issues head on.”

Many countries and economies experience headwinds, but South Africa is unique in that its citizens are the most resilient people in the world, Leon said. “We thrive in adversity, when no one else knows where to start. I have no doubt that the Jewish community will not only lead from the front, but also make an outsized contribution relative to its size.”