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Monday, 03 June 2024 19:18

Former SARB deputy governor Kuben Naidoo joins Investec.

By Antony Sguazzin.

Kuben Naidoo, who resigned as a deputy governor of the South African Reserve Bank (SARB) last year, said he has joined Investec Plc. 

Naidoo said he will be working as an executive in payments and transactional banking and said he is yet to be given a formal title.

He started at the bank on Monday. 

Naidoo, who left the central bank on 1 December, had to wait six months before taking up another post, an arrangement to prevent conflicts of interest. 

He joined the central bank as an adviser to then-Governor Gill Marcus in 2013, was appointed deputy governor two years later, and oversaw the financial stability and currency cluster which incorporates the Sarb's Economic Statistics Department, the National Payment System Department, the Fintech Unit, the Financial Stability Department, and the Risk Management and Compliance Department.

Before the rotation of the deputy governors on 1 April 2022, Naidoo oversaw the Prudential Cluster, and was the first CEO of the Prudential Authority which regulates banks upon its inception.

Daniel Mminele, another former South African central bank deputy governor, is the chairman of Nedbank Group Ltd. a rival to Investec.