Gerhard de Kock
Gerhardus Petrus Christiaan de Kock | |
|---|---|
| Born | Template:Birth date |
| Died | August 7, 1989 (aged 63) |
| Occupation(s) | Economist, Central banker |
| Known for | Sixth Governor of the South African Reserve Bank (1981–1989) |
Dr. Gerhardus Petrus Christiaan de Kock (14 February 1926 – 7 August 1989) held the position of the sixth Governor of the South African Reserve Bank, commencing his term on 1 January 1981 and remaining in office until his passing—making him the sole governor to die while serving. He took over from Dr. Theunis Willem de Jongh and was succeeded by Dr. Chris Stals. His governorship spanned a period marked by major constitutional developments, notably the shift from South Africa’s First to Second Republic in 1984. He was also the son of Dr. M.H. de Kock, who previously served as the Bank’s third Governor.
De Kock’s association with the Reserve Bank began in 1951 as a part-time researcher, advancing to a full-time economist role by 1955. Early in his career, he attended the Bank of England’s first course designed for foreign banking officials as a representative of the Reserve Bank. By 1962, he had become Economic Adviser and two years later, in 1964, he assumed leadership of the Economics Department. His appointment to the Board of Directors followed in 1967. Between 1966 and 1967, he worked as Special Economic Adviser to the Treasury for fourteen months before serving as Alternate Executive Director at the International Monetary Fund (IMF) from 1968 to 1971, where he represented South Africa along with several neighboring nations.
Upon his return to South Africa, De Kock was named Deputy Governor in 1971 and elevated to Senior Deputy Governor in 1976. In 1977, he was seconded to the Ministry of Finance in the capacity of Special Economic Adviser and chaired the Commission of Inquiry into South Africa’s Monetary System and Policy, subsequently referred to as the De Kock Commission. Beyond his Reserve Bank responsibilities, he held roles such as Director and Chairman of both the National Finance Corporation and its successor entity, the Corporation for Public Deposits. His representation extended internationally through board memberships at institutions including the International Bank for Reconstruction and Development (World Bank) and the Development Bank for Southern Africa. He also participated as a member of the Committee of Twenty and contributed to the Prime Minister’s Economic Advisory Council.
De Kock played a prominent role within professional economic organizations, presiding over both the Economic Society of South Africa (1980–81) and the Institute of Bankers in South Africa.
His accolades include honorary doctorates awarded by multiple universities—University of Natal, Port Elizabeth, Pretoria, and Potchefstroom—as well as receiving the Stals Prize for Economics in 1983 and posthumously being honored with the Frans du Toit Medal in 1990. In 1988, Euromoney magazine named him "Central Banker of the Year," and he was elected an honorary Fellow of the Institute of Bankers in South Africa in 1984. To commemorate his legacy, the University of Pretoria established an annual Gerhard de Kock Memorial Lecture.
A bronze bust sculpted by Jo Roos once stood at the Reserve Bank’s Head Office as a tribute but was removed during recent refurbishment works.