Subject category:
Entrepreneurship
Published by:
Wits Business School - University of the Witwatersrand
Abstract
Simon Stockley, SA Home Loans'' CEO, was a lawyer by education but an entrepreneur by nature; his colourful, non-conformist socks epitomised his character. The first person in South Africa to build a business based around the concept of securitisation, it had taken him just five years to break into South Africa''s capital market and take on South Africa''s major banking institutions. He had gained approximately 11% market share for new mortgage bonds (estimated to be worth R500 million per month), 3% of South Africa''s estimated R258 billion total mortgage market and forced the banking institutions to change their home loan finance modus operandi in response to his competition. Despite these achievements he was dreading the upcoming board meeting - he could predict the question that would be asked; the question for which he, as yet, had no sure answer. At the end of the board meeting Laurence Rapp, director of strategic investments and alliances, Standard Bank, would ask, ''So Simon, what is your next BHAG?''
About
Abstract
Simon Stockley, SA Home Loans'' CEO, was a lawyer by education but an entrepreneur by nature; his colourful, non-conformist socks epitomised his character. The first person in South Africa to build a business based around the concept of securitisation, it had taken him just five years to break into South Africa''s capital market and take on South Africa''s major banking institutions. He had gained approximately 11% market share for new mortgage bonds (estimated to be worth R500 million per month), 3% of South Africa''s estimated R258 billion total mortgage market and forced the banking institutions to change their home loan finance modus operandi in response to his competition. Despite these achievements he was dreading the upcoming board meeting - he could predict the question that would be asked; the question for which he, as yet, had no sure answer. At the end of the board meeting Laurence Rapp, director of strategic investments and alliances, Standard Bank, would ask, ''So Simon, what is your next BHAG?''