Michael Jordaan, Venture Capitalist and wine enthusiast stepped down as CEO of First National Bank, one of SA’s largest banks with a customer base of nearly nine million, in August 2013 to pursue his passion for entrepreneurship.
With more than 20 years’ experience in the financial services sector and nearly a decade at the helm of the bank, Michael oversaw the move away from traditional banking toward rewarding ecosystem-centric solutions for customers, and led FNB to be named the “World’s Most Innovative Bank” in the 2012 BAI-Finacle Global Banking Innovation Awards, held in Washington DC. He is also the recipient of the CNBC Africa Business Leader of the Year for Southern Africa award.
The former Banker now heads up a private investment company, Montegray Capital, investing in disruptive business models enabled by technology. Michael lends a strategic-hand to various businesses, including Mxit and Wines of South Africa (WoSA), and is a non-executive Director on the JSE Limited. He’s also part of a team that have started up a coding academy, codeX, focused on growing Africas coders.
My Definition Of Success | It has become far less materialistic; one of the problems in society today is that people look at money as a yardstick for success. It is far more important that you achieve things that are more meaningful, like have you made peoples lives better and are you leaving the world a better place.
I Am Driven By | The fact that There are just so many better ways of doing things.
My Highlights | When my kids were born because it really puts you in touch with how your parents must have felt and you have a better sense of the future – you want to create a better world for them and you understand the reason you’re doing it all, for them and the next generation. It’s easy to explain but something you will never fully understand until it happens to you.
The Difference Between Good And Great | This is the answer you don’t want to hear, it has a lot more to do with hard work than talent, it’s perseverance and hard work that makes something difficult look very easy.
A Key Talent | Surrounding myself with people than are better than me. How you do that, have the confidence to know when you don’t have the right answer and that the people around you could come up with a better solution, give them credit and that way you get to harness the wisdom of the system.
Principles I Live By | Authenticity, integrity, execution-orientated, innovation, curiosity, passion, humility and accountability.
Resources I Use To Stay Inspired | Books and people, some recent books include ‘Quiet. The value of introverts in a world that can’t stop talking’, Exponential Organisations by Salim Ismail, Zero to One by Peter Thiel.
My Future Dreams And Ambitions | After many years in the corporate world, to have a happy family life spending more time with my kids as they grow up and to build up a successful Venture Capital business and overall better environment for start-ups in South Africa. I also hope to play a role in helping the Cape Winelands achieve their rightful position in the world as one of the most dramatically beautiful regions in the world with a quality product.
I Am Inspired By | Young entrepreneurs and start-ups disrupting markets, changing the way we do things and taking on the big players.