Derek Muller, director in the chief executive’s office of banking group Nedbank and a member of the group executive committee, will be retiring during 2007, the bank announced on Monday.
In a banking career spanning 31 years, Muller (54) has been with Nedbank for 21 years and has held senior positions in corporate, international and retail banking.
Chief executive Tom Boardman said: “Derek will be exploring opportunities outside the banking environment, including extensive involvement in community and church activities.
“He will be joining the board of trustees of the Nedbank Foundation with effect from January 2007 and we are also looking at opportunities to utilise his vast experience in a part-time consultancy capacity.”
Boardman said Muller has played a key role in the Nedbank turnaround and during the past two years has been responsible for the group’s non-core-asset disposal programme, driving the implementation of the Financial Sector Charter in the bank, and coordinating the black economic empowerment ownership transaction in 2005.
He also served as a director on the Banking Association and the Charter Council. He has been instrumental in establishing a new unit focused on the financing of low-income housing projects. — I-Net Bridge