South African Reserve Bank (SARB) Deputy Governor Francois Groepe resigns

The South African Reserve Bank (SARB) has announced the resignation of Deputy Governor Francois Groepe effective 31 January 2019.

The Deputy Governor tendered his resignation during December to pursue outside opportunities.

Groepe had served at the SARB for 14 years, seven of which he served as a non-executive director and the remaining seven as an executive.

‘’The SARB wishes to thank Deputy Governor Groepe for his 14 years of service, seven served as a non-executive director and seven as an executive and wishes him well in his future endeavours. ‘’ SARB said in a statement.

During his terms as Deputy Governor, Mr Groepe provided oversight over the Financial Stability Department, the National Payment System Department, Risk Management and Compliance Department, the Currency Cluster and the Security Management Department.

SARB says the Governor has been in communication with the President, the Minister of Finance and the Board of the SARB in this regard. The process of appointing Mr Groepe’s successor is currently underway.

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