Reserve Bank Deputy Governor resigns

Thursday, January 3, 2019

The South African Reserve Bank (SARB) has confirmed the resignation of Deputy Governor Francois Groepe. 

Groepe tendered his resignation during December to pursue “outside opportunities”, the central bank said on Wednesday. His resignation is effective from 31 January. 

“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. 

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

“The Governor has been in communication with the President, the Minister of Finance and the Board of the SARB in this regard,” said SARB. 

The process of appointing Mr Groepe’s successor is currently underway. –