By Lehlohonolo Lehana.
Photo Credit:Jeremy Glyn/Financial Mail.
Nedbank Group board member and former Registrar of Banks, Errol Kruger has died, the bank announced in a statement on Monday.
Kruger, 67, died of natural causes on Saturday.
“We are deeply saddened by the news of Errol’s passing. Errol was not just a colleague but a dear friend to many of us. Other than being a great pillar of strength on the Nedbank boards in recent years, Errol will also be remembered for his exceptional stewardship of the SA banking sector during the Global Financial Crisis of 2008,” Nedbank chair Daniel Mminele said.
From September 2003 to July 2011 Errol was the Registrar of Banks at the South African Reserve Bank (SARB), having been with the SARB from July 1978 until July 2011. As the Registrar of Banks, he represented South Africa as a full member of the Basel Committee on Banking Supervision from 2009 to 2011 and he successfully project managed South Africa’s early adoption, and full implementation, of both the revised 25 Basel Core Principles for Effective Banking Supervision as well as Basel II. Errol contributed in a material manner to the South African banking system successfully navigating the Global Financial Crisis of 2008 and he was awarded the Risk Manager of the Year award in 2010 by the South African Institute of Risk Management.
Kruger took early retirement in 2011 and moved to Qatar to head up banking regulation there, as MD of supervision and authorisation at the Qatar Financial Centre Regulatory Authority. He relinquished the role in 2016 to return to SA, where he joined the Nedbank and Nedbank Group boards as an independent non-executive director.
He was also a non-executive director of Capital Appreciation and chaired the board of Nedbank Private Wealth (Isle of Man).
Kruger is survived by his daughters Leigh-Anne and Hayley.