Duncan Pieterse to head Treasury unit

The Treasury has appointed Duncan Pieterse to head its assets and liability management unit to replace Tshepiso Moahloli, who resigned after less than a year in the post. Pieterse, the deputy directorgeneral of economic policy at the Treasury, will take up the post on October 16.

The National Treasury appointed Duncan Pieterse to head its assets and liability management unit to replace Tshepiso Moahloli, who resigned after less than a year in the post.

Pieterse, the deputy directorgeneral of economic policy at the Treasury, will take up the post on October 16, weeks before the annual medium-term budget policy statement on November 4, but will have been involved in crafting the statement in his present capacity.

Boipuso Modise, chief director of modelling and forecasting, becomes acting head of economic policy, the Treasury said in a statement.

Pieterse holds a PhD, and masters and bachelor of business science degrees, according to the department of finance. Before joining the Treasury in 2013, he was a visiting research fellow at Brown and Yale universities in the US.

“This is a massive opportunity for renewal in the assets and liability management unit, which has floundered for the last decade,” said Peter Attard Montalto, head of capital markets research at Intellidex.

“Duncan will be warmly welcomed by the markets as the right person to do so. The agenda is daunting, though, including Eskom debt, climate financing and government bond management, which all need fresh thinking,” Montalto said.

Moahloli was appointed to the post in December, having previously served in an acting position at the unit. The Treasury did not provide reasons for her departure.

The November budget will be the first under newly appointed finance minister Enoch Godongwana.

While key metrics are likely to show an improvement after Statistics SA changed the way GDP is calculated, investors will look to the Treasury for clear strategies to lower debt, reduce budget deficits and return public finances to a sustainable position.