10 Dec 2012
Sizwe Nxedlana has been appointed as FNB chief economist, taking over the role from Cees Bruggemans effective from 3 December 2012.
Prior to this role, Nxedlana held the role of senior economist at FNB Wealth and was a member of the investment and asset allocation committees.
He joined FNB in 2008 and was responsible for the analysis of South African and global economic trends and global markets, initially servicing the FNB Commercial and more recently the FNB Wealth segment.
Nxedlana holds a Master of Commerce in Economics from the University of KwaZulu-Natal.
Nxedlana replaces Cees Bruggemans, who is retiring from FNB after 28 years as the bank’s chief economist.
“Bruggemans is a highly respected economist and has made a significant contribution to the success of FNB’s economics service.
“These are big shoes to fill but I am looking forward to the challenge” says Nxedlana.
Commenting on Nxedlana’s appointment, Bruggemans says he is a young and dynamic economist who has as exceptional breadth of knowledge and expertise on the macro and micro global and local economic environment.
I am confident that he will be successful in driving the FNB economics team to greater heights.
FNB chief executive officer, Michael Jordaan says they have been fortunate to have Bruggemans as chief economist and that his many years of experience have added great value to the organisation.
“We wish him well in his future endeavours and welcome Nxedlana as the new FNB chief economist,” says Jordaan.
The FNB economics team will include Nxedlana as chief economist, John Loos as consumer and property economist and Marc Appleton as FNB Wealth’s investment strategist.
Bruggemans will continue, in a capacity of consulting economist to FNB and will continue to contribute his articles, as in the past, via the FNB website.
FNB economics will continue to distribute economic commentary including the FNB/BER Consumer Confidence Index, FNB/BER Building Confidence Index and FNB/BER Civil Construction Index.
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