In mid-2014, Edwin Dande co-founder and chief executive
officer of Cytonn Investments was comfortable in his job. He was then
the chief executive of Britam Asset Managers, the asset management
subsidiary of Britam Holdings. He worked with a team of other asset
managers.
“We were doing very well. We managed
to grow the company from managing $170 million worth of assets to $770
million worth and grew the profits from $200,000 to over $3 million in
just three years,” says Dande.
However
disagreements between Britam Holdings and the asset management
subsidiary over a lucrative real estate deal resulted in the exit of
Dande and a few others on his team from the subsidiary in a sour
break-up that birthed Cytonn Investments.
Cytonn currently has more than $800 million in assets under its management.
“The
disagreements were a blessing in disguise as they helped us start a new
firm whose name was splashed in the media thanks to the lawsuits that
followed,” Dande told The EastAfrican.
Cytonn
Investments has since grown into a renowned investment and real estate
company, with offices in Nairobi and the DC Metro area in the state of
Washington, USA.
Dande, 40, started his career
at KPMG New Jersey, in the US, as an auditor before taking a path
towards investment banking at Lehman Brothers and Bank of America in New
York.
He returned to Kenya in 2011 where he
was appointed the chief executive of Britam Asset Managers, until August
2014 when he exited.
Dande holds a BSc in Accounting from Monmouth University, an MBA from the Wharton School at the University of Pennsylvania.
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What’s your typical day like?
My
days are normally determined by the previous day’s issues. I don’t have
a ‘typical day’ schedule to follow as my job is unpredictable and as a
CEO, you can never really plan how your day will be. Sometimes I leave
the office at around midnight and that means I will have to come in a
little late the following day.
What part of your job keeps you awake at night?
The
workforce. Today Cytonn employs over 1,000 people who are working hard
to grow and move the company forward. We have to make sure that the firm
is growing fast enough to create challenging opportunities for them.
You’ve grown this firm from scratch three years ago to the giant it is today. What’s your secret?
Putting
customer interests before personal or those of the company. One of the
reasons we have grown so fast over the past three years is that we’ve
been able to focus on meeting the needs of our customers and putting
their interests before those of the management.
What’s your biggest achievement over the years?
My
single best achievement has to be building the Cytonn brand from four
employees to 250 and navigating it through some very turbulent times.
The team takes a lot of pride in having seen the Cytonn brand, its
people and the clientele grow tremendously over a very short period.
Any regrets?
Finding
enough time for family has been a challenge for me. Sometimes I am not
home as early as I should be or spend enough time with my family as I
should. Our schedule is really tight that family gets short-changed in
favour of career.
What’s your leadership style?
Moving
with the team. I always try to be in touch with everyone around the
firm as the discussions allow me to gather insights, compare and
contrast views, sense problems and opportunities. I like to ask my team,
‘what is the one thing we should change at Cytonn?’
Do you sometimes get bored by meetings?
Yes.
Some people just like to give long, and winding explanations at
meetings just to show how much they know instead of just getting to the
point.
What’s the best professional advice you have ever received?
Put your head down and work your tail off. Constantly work harder than your competitors if you want to stay afloat.
Where do you see yourself in the next five years?
Running a leading regional real estate and private equity shop.
What would you have been if you were not doing what you are doing today?
I like law. If I was not in business, I would have been a lawyer, especially dealing with complex commercial transactions.
What’s your off-duty passion?
I
always try to make time for my family as much as possible. If I am not
in the gym over the weekend, then I’m probably travelling with my wife
and my daughter or enjoying nature walks especially in Karura Forest in
Nairobi.
Where would a random afternoon find you in East Africa?
Lake Kivu in Rwanda. I love the peace and serenity around the area. There’s just something about me and Lake Kivu.
What is East Africa’s greatest strength?
This
lies in its growing population that translates into growing economies,
natural resources, good weather and enviable wildlife. However, we
are performing way below our potential.
What’s your best last read?
Straight from the Gut by Jack Welch.
How do you unwind from a busy week?
By
going to the gym at least four times a week. The two-hour gym
experience takes away all my exhaustion thoughts about work as I have to
submit to my gym instructors like a student to a teacher. I also enjoy
evening social chats with friends over a drink.
How do you manage your wardrobe?
I keep it simple. I mostly wear black and blue suits, with white and blue shirts.
What’s the best gift you’ve ever received?
A liberal arts education that allows me to think both broadly and deeply. So I would say its the gift of thought.
What’s the constant in your fridge?
My bottle of red dry wine, especially the Malvern.
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