Outgoing StanChart Kenya CEO Lamin Manjang (left). Kariuki Ngari (right) has been named as his replacement. FILE PHOTO | NMG
Summary
- Stanchart said the changes are expected to take place before March 2019, with Mr Manjang having been appointed as CEO of Stanchart Nigeria and West Africa region.
- Mr Manjang was appointed Managing Director and CEO of Standard Chartered Bank Kenya on 1 March 2014.
- His successor in Kenya, Mr Ngari, has over 23 years of experience.
Standard Chartered Bank Kenya has announced
the exit of chief executive Lamin Manjang, bringing to an end his
five-year stint at the helm of the Nairobi bourse-listed lender.
The
bank said on Friday that it had replaced Mr Manjang with Kariuki Ngari,
who has previously held different roles at Stanchart Kenya.
“The
board of Standard Chartered Bank Kenya Limited is pleased to announce
the appointment of Mr Kariuki Ngari as the CEO and Managing Director of
the company subject to regulatory approval,” the firm said in a
statement today.
The lender said the changes are expected to take place before
March 2019, with Mr Manjang having been appointed CEO of Stanchart
Nigeria and West Africa region.
Mr Manjang was
appointed Managing Director and CEO of Standard Chartered Bank Kenya on 1
March 2014. Prior to his assignment in Kenya, he was the CEO of
Standard Chartered Bank Oman. He has also served as CEO in Uganda and
Sierra Leone.
His successor in Kenya, Mr Ngari has over
23 years of experience. His immediate former assignment was in
Singapore where he had been serving as Standard Chartered Bank Group's
Head of Service Quality in group retail banking.
He
started his banking career at Stanchart Kenya in 1994, then moved to
Barclays Bank of Kenya in 2001 where he served as retail banking
director.
He re-joined Stanchart in 2009 as head of
consumer banking in Kenya and East Africa. He successfully led the
franchise to commercial and industry success, earning him a promotion to
the role of Regional Head of retail banking Africa in 2013.
In 2015, he moved to Singapore as global head of retail distribution for Standard Chartered Bank Group.
He
joins the Kenyan unit at a time net profit for the nine months ended
September rose by a third to Sh6.3 billion on higher revenue from
government securities, fees and commissions and a fall in provision for
bad loans.
Stanchart Kenya becomes the second bank that will have a new CEO come next year. Mortgage financier HF Group
recently appointed former NIC Bank retail banking director Robert Kibaara as its new CEO to replace Frank Ireri who retires from the company in March next year.
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