It is with deep sadness that the board of directors of Nedbank and Nedbank Group (the boards) announce the sudden passing of Errol Kruger on 26 April 2025.
Errol joined the board as an independent non-executive director on 1 August 2016. From September 2003 to July 2011, he was the Registrar of Banks (now known as the Chief Executive Officer of the Prudential Authority) at the SARB, having been with the SARB since July 1978. As the Registrar of Banks, Errol represented South Africa as a full member of the Basel Committee on Banking Supervision from 2009 to 2011, and he successfully project managed South Africa’s early adoption and full implementation of both the revised 25 Basel Core Principles for Effective Banking Supervision as well as Basel II. Errol had been appointed as the managing director of supervision and authorisation at the Qatar Financial Centre Regulatory Authority on 1 August 2011, whereafter he was also appointed by the Board of the Qatar Central Bank to serve on Qatar’s Financial Stability and Risk Control Committee. He relinquished his role at the Qatar Financial Centre Regulatory Authority on 31 July 2016. Errol also served as a nonexecutive director of Capital Appreciation Limited and as the chairperson of the board of directors of Nedbank Private Wealth Limited (Isle of Man).
Daniel Mminele, Chairman of the boards, said he was greatly saddened at the untimely passing of Errol and, on behalf of the boards, extended his condolences to Errol’s family. He noted that Errol played an invaluable role in the governance of the Group, particularly as chair of the Group Risk and Capital Management Committee and Group Credit Committee, and he would be fondly remembered by his colleagues on the boards for his humility and kindness.