Reserve Bank deputy governor resigns

The South African Reserve Bank (SARB) has announced the resignation of deputy governor Francois Groepe.

In a statement published on Wednesday (2 January), the SARB said that Groepe tendered his resignation during December to pursue outside opportunities.

His resignation will be effective from 31 January 2019.

Groepe worked at the SARB for 14 years, serving seven years 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 Reserve Bank said that the process of appointing Groepe’s successor is currently underway.

Read: What to expect from Absa heading into 2019

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Reserve Bank deputy governor resigns