Financial Services group Discovery scored a major coup last week by appointing former deputy governor of the South African Reserve Bank (Sarb) Francois Groepe as the deputy chief executive of its banking unit as the group readies itself to shake up the banking industry.
Barry Hore, chief executive of Discovery Bank said Groepe was an important appointment. “We are pleased to welcome Francois Groepe who brings with him tremendous experience in both the corporate and regulatory environments. He is a seasoned executive and will be a valuable addition to our team,” Hore said.
During his term at the central bank, 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.
He resigned from the Sarb in January, ending a 14-year career at the Reserve Bank.
Groepe he was looking forward to the new role at the fledgling bank.