* Hannock Ng’oma first made his name playing for University of Malawi Football Club (UFC) in early 1990s
* Alongside Standard Bank’s Chief Executive, Phillip Madinga and former FAM president, Walter Nyamilandu
* After a few years of actively playing football, the three moved on to pursue various career paths
* That saw Ng’oma joining the financial service industry in 1998 through a subsidiary of Commercial Bank of Malawi (CBM)
By Duncan Mlanjira
Malawian banker based in the United States of America, Hannock Ng’oma is working for his host country’s third largest bank, Wells Fargo, as its Premier Banker holding a portfolio of affluent clients holding a minimum of US$250,000 and above as well as small business.
Hannock Ng’oma is generally famous back at home as a former great football player, who first made his name playing for University of Malawi Football Club (UFC) in early 1990s — alongside Standard Bank’s Chief Executive, Phillip Madinga and former Football Association of Malawi (FAM) president, Walter Nyamilandu and other great players.
After graduating from University of Malawi, Ng’oma, Madinga and Nyamilandu joined Mighty Wanderers where they stamped their authority as some of the country’s greatest footballers.
Phillip Madinga and former FAM president Walter Nyamilandu
After a few years of actively playing football, the three moved on to pursue various career paths that saw Ng’oma joining the financial service industry in 1998 through a subsidiary of Commercial Bank of Malawi (CBM).
“I joined through a company called CBM Financial Services,” he explains. “This market had Leasing & Finance, CBM Financial Services and Asset Finance Company.
“All these were eventually taken over by CBM, National Bank and First Merchant Bank — now First Capital Bank. When CBM was bought by Standard Bank, I joined main stream banking around 2003.
“I was with Standard Bank for 12 years, rosing to relationship manager before joining CDH and later moving on to a new bank called International Commercial Bank.
“Then I moved to Ecobank, and lastly on to FDH as a senior corporate banking manager,” said Ng’oma, who holds a Bachelors Degree in Business Administration obtained at the Polytechnic — now Malawi University of Business & Applied Sciences (MUBAS).
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He also has Master of Arts in Global Affairs & Management obtained in 2020 and having relocated to the US, studied and completed banking license examinations to become a licensed and registered banker in his host country.
“I completed SIE (Securities), Series 6, Series 63, Series 65 and Life & Annuities Insurance Licences, which enables me to practice banking in the USA,” he explains. “It allows me to discuss and participate in offering securities (derivatives, options, annuities) and all banking products.
“When you are a licenced banker, you are regulated by the Financial Industry Regulatory Authority (FINRA), the US Securities and Exchange Commission (SEC), the Municipal Securities Rulemaking Board (MSRB), New York Stock Exchange, State Regulators, among others.
“I have been with Wells Fargo in Washington D.C. for 3 years and I also had a stint with M&T Bank for one year prior to joining Wells Fargo.”
Ng’oma provided information that as of June 30, 2024, JPMorgan Chase is the largest bank in the US with total assets of US$3.5 trillion followed by Bank of America as second largest with US$2.55 trillion in assets.
Wells Fargo falls on third as the largest bank with US$1.72 trillion in assets with Citibank on 4th (US$1.68 trillion) and in assets and U.S. Bank (US$664.9 billion).
Wells Fargo is famous as it has a rich history. It was established in March 1852 by founders, Henry Wells and William G. Fargo who started from exchanging gold coins for paper cheques to enabling online transactions, building an innovative start-up to help customers build businesses and manage money.
Now a public company collectively owned by its stakeholders, it has traded on the New York Stock Exchange since 1962 and the largest institutional shareholders are Vanguard, BlackRock and Fidelity.
No bank currently operates a branch in all US 50 States, though several of the nation’s largest institutions come close — with Chase Bank being one with 4,700 branch locations in 49 states and Washington D.C and Wells Fargo also offering around 4,600 branches in 36 states.
In his resume to customers, offers his background in the financial industry with roots in Malawi in 1998 and that in addition, he earned a Master of Arts Degree in Management from Arizona State University and he is an alumni of Thunderbird School of Global Management, Washington D.C. campus.
“As a premier banker, I strive to help each of my clients plan for their financial future with their goals in mind. In addition to helping my clients, I am committed to helping my community.
“I am currently involved with Rotary and away from the office, I enjoy golf and I am an art enthusiast.”
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Phillip Madinga joined Standard Bank from NBS Bank and over the years has led the bank contribute towards the country’s economy through various innovations and contributions.
After completing his studies and the stint in playing football at the highest level including the national team, Nyamilandu joined Illovo Sugar Malawi and later contested and won the FAM presidency which he led for two decades.
He is still in the football circles as member of the Confederation of African Football (CAF) and Council of Southern Africa Football Associations (COSAFA) and once served in world football governing body, FIFA as Council member.
Walter with FIFA President Gianni Infantino