FNB appoints new chief economist

Johannesburg - Sizwe Nxedlana was appointed as Chief Economist at First National Bank, the bank said on Thursday.

He would take over from Cees Bruggemans from December 3, the bank said in a statement.

"Sizwe (Nxedlana) is a young and dynamic economist who has an exceptional breadth of knowledge and expertise on the macro and micro global and local economic environment," Bruggemans said.

"I am confident that he will be successful in driving the FNB economics team to greater heights."

Nxedlana was a senior economist at FNB Wealth and a member of the investment and asset allocation committees.

Bruggemans was retiring from FNB, the company added.

"Cees (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," Nxedlana said in a statement.