Issued by: The Office of the President
For immediate release
STATEMENT ON THE APPOINTMENT OF THE NEW DEPUTY GOVERNOR FOR THE SOUTH AFRICAN RESERVE BANK
At its last meeting of the year held on 4 December 1996, Cabinet approved the appointment of Mr James Havelock Cross as a Deputy Governor of the South African Reserve Bank. Mr Cross will fill a currently vacant office of Deputy Governor of the bank caused by the retirement of Dr J H Meijer at the end of April 1996.
Mr Cross has had long experience in international banking, both in South Africa and abroad. From April 1987 until July 1995 he served as the General Manager of the Gold and Foreign Exchange Department of the Reserve Bank. For the past eighteen months, he has been working with his wife in a private research and consulting business based in London.
James Cross' career has left him with a well-rounded knowledge of the banking industry, country debt management and foreign exchange and commodity markets. Together with Dr Chris Stals, Governor, and Dr Chris de Swardt and Mr Tim Thahane, the other two Deputy Governors, the Reserve Bak will now have a strong and well-experienced management team that is well-equipped to meet the many challenges of the changing financial environment, both in South Africa and in the global financial system.
ISSUED BY THE OFFICE OF THE PRESIDENT
6 DECEMBER 1996
For further information please contact the Ministry of Finance: Jennifer Wilson, 012-323 8911