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FIRSTRAND LIMITED - FirstRand appointment of Gert Kruger as Group Chief Risk Officer

Release Date: 17/01/2020 13:16
Code(s): FSR FSRP     PDF:  
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FirstRand appointment of Gert Kruger as Group Chief Risk Officer

FirstRand Limited
(Incorporated in the Republic of South Africa)
(Registration number 1966/010753/06)
JSE ordinary share code: FSR
Ordinary share ISIN: ZAE000066304
JSE B preference share code: FSRP
B preference share ISIN: ZAE000060141
NSX ordinary share code: FST
LEI: 529900XYOP8CUZU7R671
(FirstRand or the group)


FirstRand has appointed Mr Gert Kruger as group Chief Risk Officer (CRO), effective 1 July 2020. Mr
Kruger will report to the group Chief Operating Officer (COO), Mary Vilakazi, and will be a member of
the group’s strategic executive committee (Stratco).

Mr Kruger has been with the group for 16 years, most recently as the CRO at RMB. He has extensive
experience managing all risk classes including credit, market, investment and operational risk. Prior to
joining RMB, Mr Kruger was instrumental in building the group’s credit risk framework for retail,
commercial and corporate lending, which was implemented post the global financial crisis.

This deep understanding of group-wide frameworks, places Mr Kruger in a unique position to provide
greater portfolio oversight and ensure alignment of the second line of defence to FirstRand’s integrated
financial services strategy and operating model.

The CROs of the underlying businesses will report directly to Mr Kruger. Mr Jaco Grobler has been
appointed CRO for FirstRand Bank and remains head of group enterprise risk management, also
reporting to Mr Kruger. Mr Grobler’s new role ensures that key banking risks, and the governance of
those risks, particularly cybersecurity, environmental and social risk, and IT risk, have dedicated, senior

17 January 2020

RAND MERCHANT BANK (a Division of FirstRand Bank Limited)

Date: 17-01-2020 01:16:00
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