Francois Groepe appointed deputy CEO at Discovery Bank

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Former Deputy Reserve Bank Governor Francois Groepe has been appointed deputy CEO at Discovery Bank.

Discovery Bank announced Groepe's appointment in a statement late on Thursday. His term is effective from August 1.

Discovery launched the tech-led bank in November 2018. Groepe will work alongside Discovery bank CEO Barry Hore.

Groepe was previously the group managing director and CEO at Media24. He later joined the Reserve Bank where he served on the board of directors for 14 years.

Grope resigned from the Reserve Bank in January to pursue "outside opportunities", the bank said at the time. Groepe had provided oversight over the Financial Stability Department, the National Payment System Department, Risk Management & Compliance Department, the Currency Cluster and the Security Management Department of the Reserve Bank.

On his appointment at Discovery, Groepe said: "The South African financial services landscape is undergoing significant structural change and Discovery Bank, which is the world’s first behavioral bank, will be playing a key role in this changed landscape. I look forward to being part of this exciting transition.

Discovery CEO Adrian Gore said that Groepe joins the bank at an "incredibly exciting time".

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