CAPE TOWN - Embattled VBS Mutual Bank will be overseen by SizweNtsalubaGobodo (SNG) Director Anoosh Rooplal who will represent the retail bank after its recent financial woes.
The retail bank which was placed under curatorship by the South African Reserve Bank (Sarb), has experienced grave financial constraint over the last 18 months.
Subsequently, Sarb stepped in and placed advisory firm SNG in charge of the troubled bank.
According to Sarb, placing VBS under curatorship will allow Sarb the means to implement a resolution plan.
Take a look at Anoosh Rooplal and his experience:
- Rooplal holds a Bachelor of Accountancy and Diploma in Accounting (Honours) from the University of Kwa-Zulu-Natal (UKZN).
- His experience in the financial sector extends to over 18 years.
-He is affiliated with several financial organisations including the Johannesburg Stock Exchange (JSE) where he serves as a Reporting Accountant Specialist as well as a Independent Professional Expert.
- Rooplal, a registered JSE auditor is also a registered auditor for the Independent Regulatory Board for Auditors.
- He has worked for consulting and auditing firm, Deloitte from 1999-2001 as a trainee account and then went on to assume the role of a Audit Manager.
- Rooplal joined SNG in October 2003 as a Senior Audit Manager. He then went on to become a Partner in the Financial Services Group in 2006, after receiving a promotion.
- His experience at SNG include and is not limited to valuation reviews for the Public Investment Corporation (PIC), structuring, due diligence and capital raising and financial model reviews.
- The SNG Director has worked with several clients across the financial sector, including the Financial Services Commission (Mauritius), Eskom Treasury, Transnet Treasury, Nedcor Investment Bank Limited, New Republic Bank (liquidation audit), South African Reserve Bank and Blue Titanium Conduit Limited – Securitization to but name a few.
- BUSINESS REPORT ONLINE