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Sarb deputy governor quits

3 Jan 2019

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

Francois Groepe

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

Groepe worked at the Sarb for 14 years, seven served as a non-executive director and seven as an executive. 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 in this regard,” said the reserve bank.

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

Source: SAnews.gov.za

SAnews.gov.za is a South African government news service, published by the Government Communication and Information System (GCIS). SAnews.gov.za (formerly BuaNews) was established to provide quick and easy access to articles and feature stories aimed at keeping the public informed about the implementation of government mandates.

Go to: http://www.sanews.gov.za