Bank CEO quits to play 'second fiddle' at NBFIRA

It is yet unclear if Ramasedi was roped in to understudy Canadian-born founding CEO Robert Hobart or NBFIRA offered him a better package.In an interview on Tuesday, Ramasedi confirmed that he had indeed joined NBFIRA because "it was time to move on" after being with NDB for nine years.

"I was with the bank for almost ten years and an opportunity came, I looked at it and took it," he said.He says as a regulatory authority, NBFIRA is bigger than the bank, hence he did not lose anything by moving from CEO to Deputy CEO. Ramasedi denies claims that he has been recruited to understudy Hobart. He leaves NDB when it is going through its biggest transformation being one of the parastatals the government has earmarked for privatisation.