BY JOAN WANJIKU,NAIROBI,24TH MAY,2022-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.