Sunday, July 19, 2009

Gill Marcus appointed as new Reserve Bank Governor

By Kim Saulse
19 July 2009


Gill Marcus will replace Tito Mboweni as Reserve Bank Governor in November 2009.

Mboweni, whose contract ends on 8 August, was re-appointed by the president, but he indicated he did not want to stay on as he wanted to pursue other interests.

“As the term of office of the current Governor, Mboweni, is due to end on 8 August 2009, I initiated a process of consultation on the position. I have reappointed Mboweni. However, he has indicated he wishes to leave in November to pursue other interests,” president Zuma said at a press briefing at the Union Buildings today.

Analysts say markets should react favourably as Marcus has shown to be a “ competent, clear thinker with credibility in the formal sector and as a former activist”.

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