Zuma appoints new bank chief

South African President Jacob Zuma has appointed Gill Marcus to the position of governor at the South African Reserve Bank, to take over from Tito Mboweni when his term expires in August. Marcus is likely to officially take over in November, when Mboweni, who was initially appointed for a third five-year term, has said he will leave.  Johannesburg-born Marcus was deputy minister of finance before becoming deputy governor at the central bank from 1999 to 2004. She is currently chair of South AfricaÔÇÖs largest banking group, Absa, and has also been an ANC spokeswoman.  Zuma┬áhas come under increasing pressure from unions recently to loosen monetary policy, and focus instead on creating more jobs.  He has said that the appointment of Ms Marcus will herald no change in the bankÔÇÖs policy. Since taking up the post of governor in 1999, Mboweni has been widely praised for his efforts to fight inflation. *┬á┬á┬á┬á┬á┬á *┬á┬á┬á┬á┬á┬á *