Deputy Reserve Bank governor Francois Groepe has resigned effective January 31 2019, to pursue outside opportunities. The Reserve Bank made the announcement on Wednesday. Groepe has been with the bank for 14 years — seven as a non-executive director and seven as an executive. During his terms as deputy governor, Groepe oversaw the Reserve Bank’s financial stability department; the national payment system department; risk management and compliance department; the currency cluster; and the security management department. The bank’s statement said, “The governor [Lesetja Kganyago] has been in communication with the president [Cyril Ramaphosa], the finance minister [Tito Mboweni] and the board of the Reserve Bank in this regard. The process of appointing Mr Groepe’s successor is currently underway.”

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00.