Gill Marcus

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Gill Marcus
Governor of the South African Reserve Bank
In office
November 2009 – present
Preceded by Tito Mboweni
Personal details
Born (1949-08-10) 10 August 1949 (age 65)
Johannesburg, South Africa
Alma mater University of South Africa

Gill Marcus (born 10 August 1949) is the ninth Governor of the South African Reserve Bank. She is the first woman to hold the position.[1]

Life and career[edit]

Early years[edit]

Marcus was born in Johannesburg, South Africa.[2][3] Her grandparents were Jewish immigrants from Lithuania. Both her parents, however, were born in South Africa.[4]

Exile[edit]

Both her parents were anti-apartheid activists and members of the South African Communist Party (SACP). They went into exile in 1969, together with Gill, her two sisters and brother. She completed her degree by correspondence with the University of South Africa, with a B.Comm in Industrial Psychology in 1976.[3][5][2] She joined the SACP and the African National Congress (ANC). In 1970 she began working for the exiled ANC's Department of Information and Publicity (DIP) in London, later becoming the DIP's deputy secretary.

Return[edit]

Marcus returned to South Africa in 1990 after the ANC was unbanned.[6] She established the ANC's Information Department in 1990.

Politician and Central Banker[edit]

She was elected a Member of Parliament in 1994 and became Deputy Minister of Finance in the Government of National Unity of Nelson Mandela from 1996 to 1999, serving under Trevor Manuel.[7] In 1999 she became Deputy Governor of the Reserve Bank under Tito Mboweni. She held the post for 5 years but left due to a personality clash with Mboweni.[3][8]

She then held the Professorship of Leadership and Gender Studies at the Gordon Institute of Business Science, before going into business, initially as chairman of Western Areas mining company and later as non-executive director of Gold Fields. In 2007 she succeeded Danie Cronjé as chair of Absa Group and Absa Bank.[3]

In July 2009, President Jacob Zuma announced that she would return to the Reserve Bank to succeed Mboweni as Governor. The appointment was welcomed by both economists and trade unionists.[9]

References[edit]

  1. ^ "Gill Marcus appointment widely welcomed". SAPA. 2009-07-20. 
  2. ^ a b "Profile: Ms Gill Marcus". 24.com. Retrieved 2009-07-21. 
  3. ^ a b c d Hamlyn, Michael (2009-07-20). "Meet Gill Marcus". News24. 
  4. ^ Shain, Milton and Pimstone, Miriam. "Gill Marcus". Jewish Women's Archive. 
  5. ^ Illustrious alumni, unisa.ac.za
  6. ^ Mbeki, Thabo (1999-04-30). "Statement by acting president Thabo Mbeki on the appointment of Gill Marcus to the Reserve Bank". Office of the President. 
  7. ^ "Statement of President Nelson Mandela at the National Assembly". South African Government Information. 1996-03-28. 
  8. ^ "Marcus returns to replace Mboweni". The Times. 2009-07-20. 
  9. ^ "Gill Marcus new Governor of S Africa's Reserve Bank". Yahoo. 2009-07-19.