Chief of South Africa’s CSD departs

The chief executive of Strate, South Africa’s central securities depositary (CSD), is leaving after nearly 20 years.

Monica Singer will be replaced, on an interim basis, by Maria Vermaas, the head of the legal and regulatory division.

“With the potential disruption that the financial markets may face, particularly with disruptive technologies like blockchain, I will continue to research to stay ahead of developments which may lead me to consulting on these topics,” said Singer.

Singer is moving to Cape Town to pursue other, unspecified, opportunities. Strate is based in Johannesburg.

A statement from Strate praised Singer’s contribution to South Africa’s financial markets, including her role in introducing electronic settlement.

©2017 funds global mena

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