Nedbank appoints heavyweight as director

IOL pic aug5 BR Nedbank 1786 INDEPENDENT MEDIA Picture: Simphiwe Mbokazi

Cape Town - Nedbank on Thursday said it had appointed the former registrar of banks at the South African Reserve Bank as an independent non-executive director from August 1.

A statement from the banking group that is soon to be demerged from Old Mutual said Errol Melville Kruger had extensive regulatory, banking and financial services experience, including being the registrar of banks at the Reserve Bank from September 2003 to July 2011.

As registrar of banks Kruger was a full member of the Basel Committee on Banking Supervision and oversaw South Africa's implementation of the committee's global rules for bank governance.

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Kruger has also held positions at the Qatar Financial Centre Regulatory Authority and on Qatar's Financial Stability and Risk Control Committee.

Nedbank Group Chairman Vassi Naidoo said Kruger's “experience in implementing international world-class regulatory frameworks will be of benefit to the Nedbank Group”.


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