Gustav Raubenheimer appointed as CFO of African Bank

As of end July 2015, Gustav Raubenheimer is CFO Designate of Good Bank (African Bank) and its new holding company.

Raubenheimer, a qualified Chartered Accountant and Chartered Financial Analyst, joined African Bank in October 2012, in the position of Executive for Credit. Prior to this he was the Chief Risk Officer for Retail and Business Banking at Absa Bank (2008-2012), having moved from his position as Head of the Retail Credit Lab at Nedbank (2002-2008).

Also read: Simon Ridley retires - CFO of the Year 2014 to leave Standard Bank

Raubenheimer, who also holds a Treasury Diploma from UNISA, and completed an Advanced Management Course through Wits, said of the appointment:

"I am excited with this opportunity. I am joining a dynamic and energised executive team, who I believe will deliver innovative and value-driven products to South Africans."

On 10 August 2014, then-Governor of the South African Reserve Bank, Gill Marcus, placed African Bank under curatorship. Tom Winterboer was appointed as curator, and the SARB set to work defining proposals for the restructuring of the institution. Raubenheimer's employment contract will remain with African Bank for now, and will be novated to Good Bank at an appropriate time, along with all other African Bank employees.

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