Paul Russo takes over from Joshua Oigara as new KCB Group CEO
KCB Group has named Paul Russo as its new
Group Chief Executive Officer.
Russo, whose appointment follows a
competitive selection process, according to the bank, takes over from Joshua
Oigara who ends a stint of nearly a decade with the bank.
Until his appointment, Russo was the Managing
Director of the National Bank of Kenya, a subsidiary of KCB, and the Group’s
Regional Business Director.
Oigara’s term at KCB was initially expected
to run through to December 2022 after a one-year extension at the end of last
year.
He is however expected to remain in the
period to the end of the year to support the leadership transition.
The departing Oigara has been credited by the
board with growing the lender to a regional leader in banking.
“The board acknowledges Joshua’s immense
contribution in driving the Growth of the Group business over the decade. He
has been instrumental in deepening financial inclusion and social impact across
East Africa,” the bank noted.
During his tenure, Oigara oversaw KCB’s
regional expansion which includes the acquisition of banks in Tanzania and
Rwanda.
His last acquisition which closed earlier
this year saw KCB acquire a majority stake in Rwanda’s Banque Populaire du
Rwanda (BPR).
Back home, Oigara oversaw the acquisition of
the National Bank of Kenya (NBK), a unit which has now produced KCB Group’s new
CEO.
The incoming boss has over 20 years of
experience in executive roles including serving as Group HR Director.
He holds a Masters in Business Administration
from Strathmore University Business School and a Bachelor’s in Business
Management from Moi University.
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