Issued by: Office of the President
30 April 1999
A vacancy has occurred in the top management of the South African Reserve Bank (SARB) as a result of the pending retirement at the end of June 1999 of Deputy Governor Dr Chris de Swardt.
Accordingly, the President of the Republic, Nelson Mandela, has considered the matter and consulted the Deputy President, the Minister of Finance, and the Board of the SARB in this regard.
The President of the Republic is pleased to announce that, in discharging his legal responsibilities, and with the full support of the Board, the Deputy President and the Minister of Finance, he is appointing Ms Gill Marcus as Deputy Governor of the SARB. Ms Marcus will assume her duties on 1 July 1999.
The President would like to express his profound appreciation for the service and dedication that Dr de Swardt has shown to the SARB. The President is confident that Dr de Swardt will continue to be a resource to the Bank even though he will have retired.
Further, the President would like to express gratitude to Ms Gill Marcus for the exceptional commitment and dedication that she has displayed first as Chairperson of the Jont Standing Committee on Finance (JSCOF) in the National Assembly and subsequently as Deputy Minister of Finance. Her voice will be missed in both senior ANC and Cabinet circles.
As many South Africans may know, Ms Marcus was born on 10 August 1949 in Johannesburg. She matriculated in 1966 from the Johannesburg High School for Girls (Barnato Park).
Ms Marcus completed the first two years (1967 - 1968) of a Bachelor of Commerce degree at Witwatersrand University. She left South Africa in 1969, and completed her B. Com degree with the University of South Africa.
From 1970 to 1990 Ms Marcus worked for the ANC in various capacities. After the ANC was unbanned she returned to South Africa in 1990 to help establish the ANC's Department of Information.
Elected to parliament on 27 April 1994, she chaired the JSCOF until 1996. Her sterling performance as Chairperson of this Committee earned her many accolades across a wide spectrum of South Africa's population. Ms Marcus was appointed Deputy Minister of Finance in April 1996, a post she has held to date.
The President is of the full conviction that Ms Marcus will bring into the Reserve Bank a wealth of experience in financial matters, fortitude in handling complex questions, and widespread respect from across all sectors of the South African population.
For enquiries, contact:
Joel Netshitenzhe
082-900-0083