RMB was founded in 1977 in Johannesburg by three entrepreneurs: Laurie Dippenaar, GT Ferreira and Pat Goss who created a business with a uniquely empowering culture and rooted in a strong value system. They called the business Rand Consolidated Investments (RCI) and built the business on the basis of Traditional values. Innovative ideas. After Pat left the business, a new partner, Paul Harris joined. A few years later, the trio merged their successful lending and financing business with Johann Rupert’s Rand Merchant Bank. They swapped the name RCI for RMB and so the world of RMB came into being.

Making history

The entrepreneurs expanded their humble business from a R10 000 start-up into a financial services empire that would become one of the largest financial services groups by market capitalisation in Africa. It was the group’s uniquely empowering culture that enabled our success and led the founders in 1998 to establish FirstRand Limited. This transaction involved the disposal of Anglo American's interests in First National Bank (FNB) and Southern Life, and the merger of these assets with RMB and Momentum. It was one of the largest transactions in the history of financial services in South Africa. FirstRand Limited is listed on the Johannesburg Stock Exchange (JSE) and the Namibian Stock Exchange (NSX).

"One of the primary features of our environment that I believe has contributed to our competitive distinction is our ability to unlock discretionary energy and liberate specialist talent."

Laurie Dippenaar

"We had influence, but never used it unfairly. We actually tried to instill a very democratic, owner-manager culture in the bank."

GT Ferreira

"Those early days were tough and the three of us went without salaries for nine months. I had a small overdraft, but we lived from hand to mouth."

Paul Harris

Featured