Rakesh Garach is the new chief financial officer at Grindrod Bank

The board of Grindrod Bank has confirmed his appointment as CFO and executive director.

The board of Grindrod Bank has confirmed the appointment of Rakesh Garach as the CFO and executive director at Grindrod Bank, a role he has held since 1 August 2019. 

Rakesh has extensive experience in financial services, in both the private and public sectors. He has previously held the position of head of Financial Services at EY and chief operating officer of Deutsche Bank

Says David Polkinghorne, CEO at Grindrod Bank:

“We are excited to have Rakesh Garach join us. He brings with him significant experience in the financial sector which we believe will unlock more opportunities as we continue to grow and diversify our business.”

While Rakesh’s initial experience was in corporate finance and investment banking, he then broadened into operations and private equity. Over the past ten years, he has focused his expertise on advising or buying into and growing owner-driven businesses in a wide range of sectors, including mining, manufacturing and BEE.

Rakesh also serves on the board of the National Empowerment Fund, where he is in his second term as chairman. He serves on a wide variety of other boards, where he often fulfills the additional role of chair of the audit committee. 

He is a member of the South African Institute of Chartered Accountants. He has a Bachelor of Commerce in Accounting and a Postgraduate Diploma in Accounting (Honours), both from the University of Kwazulu-Natal in Durban.