Minos Gerakaris, former head of trade finance at Rand Merchant Bank (RMB), has taken on a new role at the bank, becoming sector head of insurance and financial services providers within the newly formed financial institutions group.

“Over the past 20 years within the FirstRand group I’ve been fortunate to be able to focus on building interbank relationships, both FI and corporate trade finance, supply chain, distribution, insurance and trade product management as the global product owner,” says Gerakaris. “I’m excited to take up the challenge of this new role and extend my insurance experience in the London, Lloyd’s and European reinsurance markets into South Africa and the broader African region.”

The global role covers all players in both the short-term and life insurance industry as well as insurance brokers, stockbrokers, securities exchanges, clearers and consumer finance companies.

Gerakaris, who remains based in Johannesburg, has been the bank’s head of trade finance since 2013, and before that held a number of roles within the FirstRand group, including head of Africa FIs and head of emerging market FIs.

He represents RMB on the African regional committee of the International Trade and Forfaiting Association and is an inaugural member of the African council of the Bankers Association for Finance and Trade.

GTR understands that Gerakaris’ replacement will be announced in the coming weeks.