Press release -
Dr Reuel J Khoza appointed as Chairperson of Discovery Bank
Johannesburg —April 1, 2021 — Financial services group Discovery Limited today announced the appointment of Dr Reuel J Khoza as the new Chairperson of Discovery Bank Limited and Discovery Bank Holdings Limited, with effect from 1 April 2021. He replaces Adrian Gore who has chaired the Bank since its inception. Gore remains a Director of Discovery Bank Limited and Discovery Bank Holdings Limited.
Dr Khoza is a distinguished thinker, businessman and author. He is currently the Interim Chairperson of the Public Investment Corporation and has served on the boards of other major South African Banking Institutions most recently as the Chairperson of Nedbank Group Limited. Dr Khoza’s appointment follows the approval of the Prudential Authority of the South African Reserve Bank and complies with the Banks Act that requires the Chairperson to be an independent, non-executive director.
“Reuel brings a wealth of experience and will add tremendous value in the governance of Discovery Bank. The Bank is performing excellently and we believe he will play a significant role as we continue to build a world-class bank,” said Adrian Gore, Chief Executive of Discovery Limited.
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About Discovery Bank
Discovery Bank is part of Discovery Limited, a financial services organization that operates in the healthcare, life assurance, short-term insurance, savings and investment and wellness across 27 markets. Discovery Bank is fundamentally designed differently through its shared-value model. Clients create value as they manage their money well that Discovery Bank shares back with them through better interest rates, deep discounts and significant rewards. The overall outcome is that clients experience greater financial wellbeing, it reduces the risk of defaults for Discovery Bank making the business more sustainable, and it addresses large-scale challenges, such as increased savings, that benefit society at large. Behaviour change and rewards are enabled through Vitality Money, an AI-Powered programme on the Discovery Bank app that which gives clients an understanding of behaviours that influence their financial wellbeing and how to manage their money. The better clients do, the higher their Vitality Money status and the greater the value they receive.
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