Mboweni heads for Brics bank

27 June 2015 - 13:06 By RDM News Wire

Finance Minister Nhlanhla Nene announced on Friday that former Reserve Bank governor Tito Mboweni has been appointed as the non-executive director to the board the Brics New Development Bank (NDB). He added that Cabinet had endorsed the nomination of Leslie Maasdorp for vice-president of the NDB. Maasdorp recently parted ways with AdvTech where he was chief executive. He was previously the president of Merrill Lynch for southern Africa.The management of the NDBs will be appointed at the board of governors inaugural meeting on July 7‚ Nene said. The NDB is expected to be up and running by the end of the year.-RDM News Wire

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