Gill Marcus
Gill Marcus | |
|---|---|
| Born | August 10, 1949 Johannesburg, South Africa |
| Occupation(s) | Political figure, banking executive |
| Years active | 1970–present |
| Known for | Governor of the South African Reserve Bank (2009–2014), first female governor |
Gill Marcus (born 10 August 1949) is a South African political figure and banking executive who held the position of Governor at the South African Reserve Bank from 2009 until 2014. She was notable for being the first and only female to occupy this role, as well as the ninth person overall.
Early years
Marcus was born in Johannesburg, South Africa. Her family background includes Jewish grandparents who emigrated from Lithuania, while her parents were both native South Africans.
Exile
In 1969, due to their anti-apartheid stance and affiliation with the South African Communist Party (SACP), Marcus’s parents went into exile, taking Gill and her siblings with them. She completed a Bachelor of Commerce in Industrial Psychology through distance learning at the University of South Africa in 1976. Joining both the SACP and the African National Congress (ANC) in 1970, she contributed to the ANC's Department of Information and Publicity (DIP) based in London, eventually rising to deputy secretary.
Return
Following the ANC’s legalization in 1990, Marcus came back to South Africa and played a key role in founding the ANC's Information Department.
Politician and central banker
Marcus was elected to Parliament in 1994 and served as Deputy Minister of Finance between 1996 and 1999 under President Nelson Mandela’s Government of National Unity, reporting directly to Trevor Manuel. In 1999, she was appointed Deputy Governor of the Reserve Bank under Tito Mboweni, a role she held for five years before resigning due to disagreements with Mboweni.
Subsequently, Marcus accepted a Professorship at the Gordon Institute of Business Science before transitioning into corporate leadership, including serving as chairman of mining firm Western Areas and as a non-executive director at Gold Fields. In 2007, she took over from Danie Cronjé as chairperson of both Absa Group and Absa Bank.
In July 2009, President Jacob Zuma appointed her as Governor of the Reserve Bank, succeeding Mboweni. Her appointment received positive responses from economists and labor unions alike. Marcus fulfilled her full five-year term before stepping down in November 2014.