South Africa

Deputy governor of the Reserve Bank resigns

02 January 2019 - 16:48 By TimesLIVE

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Francois Groepe has resigned as deputy governor of the SA Reserve Bank.
Image: The Herald / Brian Witbooi

The SA Reserve Bank (SARB) on Wednesday announced the resignation of its deputy governor Francois Groepe.

Groepe tendered his resignation during December to pursue “outside opportunities”, the Bank said in a statement.

“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.

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“During his terms as deputy governor, Mr 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."

Groepe had informed the president, finance minister and board of the reserve bank of his decision, the bank said.

"The process of appointing Mr Groepe’s successor is currently under way,” it added.