11 February 2013

South Africa: Appointment of Mr Kuben Naidoo As Adviser to the Governor and Mr Leon Myburgh As Head of the Financial Markets Department

press release

The South African Reserve Bank (SARB) hereby announces the following appointments:

1. Mr Kuben Naidoo as Adviser to the Governor

2. Mr Leon Myburgh as Head of the Financial Markets Department

Mr Naidoo holds a Bachelor of Science degree, a Post-graduate Diploma in Public Management from Wits University and a Master of Business Administration from the University of Birmingham. He is currently on contract with the Development Bank of South Africa and has previously served as the Acting Head of Secretariat for the National Planning Commission. Mr Naidoo also worked at the National Treasury where his responsibilities included education finance, public-sector personnel policy, intergovernmental fiscal relations, capital budgeting, budget reform and fiscal policy. He spent two years at the United Kingdom Treasury, working on capital budgets and biannual spending review.

Mr Naidoo will join the Bank on 1 April 2013. Mr Myburgh's key responsibility will be to provide leadership and strategic direction to the Financial Markets Department, including implementing the SARB's monetary policy decisions in the financial markets; managing official gold and foreign exchange reserves; providing domestic and international banking and treasury services; and maintaining relationships with the SARB's counterparties in the domestic and international financial markets.

Mr Myburgh holds a B Com Honours (Economics) degree and a Master of Business Administration qualification. Before his appointment to the Bank, he was a Sub-Saharan Africa Strategist at Citibank, where he also provided trading views on interest rate and currency markets across the region and South Africa. Mr Myburgh will join the Bank on 1 March 2013.

The SARB welcomes both Mr Naidoo and Mr Myburgh and wish them success as they take up this new challenge.

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