Tunis, Tunisia - February 18, 2010, Tunis, Tunisia - The African Development Bank (AfDB) is appointing Mthuli Ncube as the Bank’s new Chief Economist, to succeed Louis Kasekende who has returned to his country as Deputy Governor of the Bank of Uganda.
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Professor Ncube is the Dean of the Faculty of Commerce, Law and Management at the University of the Witwatersrand, Johannesburg, South Africa. He is also the President of the South African Business Schools Association (SABSA). He has extensive experience as an Investment Banker, having been Founder and Chairman of Selwyn Capital Group and Barbican Holdings.
Professor Ncube also worked for INVESTEC Asset Management as a Portfolio Manager and Head of Asset Allocation Strategy. He managed Investec’s Global Managed Fund, an offshore umbrella-fund registered in Ireland. The fund had five other funds under it with investments in US, Japanese and European Equities, bonds and money markets.
Prior to joining the corporate sector, Professor Ncube was a Lecturer in Finance at the London School of Economics, UK.
He has published widely research papers in the area of finance and economics, some of which have won awards. His papers have appeared in international journals such as the Journal of Econometrics, Journal of Banking and Finance, Mathematical Finance, Applied Financial Economics and International Journal of Auditing,, Journal of Accounting and Public policy, Journal of Cost Management, among others.
Professor Ncube has been a Visiting Scholar in the Research Department at the International Monetary Fund(IMF), and holds various non-executive directorships in the corporate sector. He is also the Vice Chairman of the Board of the African Economic Research Consortium(AERC), Nairobi.
Professor Ncube is a Director of the Financial Services Board (FSB) in South Africa, a body that regulates and licenses financial institutions. He is also a Governor of Hilton College, a top high school for boys in South Africa and a Governor of the St. Peters Preparatory School. He holds a PhD in Finance from Cambridge University, UK, on “Pricing Options under Stochastic Volatilityâ€. ■