Equity Bank (Kenya) Limited has announced the appointment of an acting Managing Director (MD) following the retirement of Gerald Warui.
In a notice shared on August 16, Equity Bank Kenya’s board announced the appointment of Moses Okoth Nyabanda as the new Acting Managing Director, subject to approval by the Central Bank of Kenya (CBK).
Equity Bank made the announcement adding that former MD Gerald Warui requested for early retirement which was accepted by the bank.
“The Board has today appointed Mr. Moses Okoth Nyabanda, Equity Group Holdings Pic’s Group Chief Finance & Strategy Execution Officer as the Acting Managing Director of Equity Bank Kenya, subject to Central Bank of Kenya approval, and accepted Mr. Gerald Warui’s request for early retirement,” read part of the notice.
“The Bank wishes to thank Mr. Warui for his long and dedicated service to the Group which included heading operations, customer service, HR and finally, Equity Bank Kenya as Managing Director.”
Before joining Equity Group, Nyabanda was the Managing Director and Country Senior Partner for PricewaterhouseCoopers (PwC) in Rwanda and a member of PwC Eastern Africa leadership team.
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He has a proven track record of leading effective teams, strategic planning, driving business growth and delivering impactful solutions to businesses and governments in Kenya, Rwanda, Uganda, and the United Kingdom.
Moses Nyabanda appointed as Equity Bank Kenya’s Acting MD
While at PwC, he was responsible for driving operational efficiency including resource planning, digital transformation, innovation, and cost management at PwC Eastern Africa.
Equity Group said that the acting MD is a key member of the company’s executive team who has demonstrated commitment to the Group’s corporate philosophies and customer value creation.
“Throughout his career, Mr. Nyabanda has distinguished himself as a disciplined and thorough professional, demonstrating exceptional leadership in promoting robust control environments and productivity,” added Equity.
“The Board is confident that under Mr. Nyabanda’s leadership, Equity Bank Kenya will continue to deliver sustainable profitable growth, while enhancing our customer values proposition and employee engagement.”
Warui Replaces Igathe
Nyabanda is set to replace former MD Warui, a veteran insider in the company who was assumed the role following the resignation of Polycarp Igathe.
As a long serving Director at the company, Warui was appointed as Equity Group’s 4th Managing Director in its 35-year history having served Equity Bank for 21 years.
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The outgoing MD holds an Executive Master of Business Administration degree from Jomo Kenyatta University of Agriculture and Technology (JKUAT).
He is also a Certified Public Accountant CPA (K), and a graduate of Advanced Management Program offered by IESE Business School, Barcelona, Spain.
A career banker, Gerald Warui has vast experience spanning over 30 years and has headed operations, customer service and HR within the Group.
Prior to his appointment as MD, he assumed the role of Director of Operations and Customer Service in Equity Bank Kenya.
The new leadership change notably comes following the retirement of Mary Wangari Wamae as a director of the Company.
Equity Bank in a notice on June 29, announced Wamae’s retirement as its director with effect from June 28, 2024, following an illustrious career in the banking industry.
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