Economy
Absa CEO shakes up top brass six months into appointment
Thursday October 26 2023
Abdi Mohamed, CEO of Absa Bank Kenya gives his remarks during the launch of the 2022 Kenyan Banking Sector Total Tax Contribution study by PricewaterhouseCoopers Limited (PwC)and Kenya Bankers Association on August 2, 2023, at Serena Hotel, Nairobi. PHOTO | BILLY OGADA | NMG
Absa Bank Kenya has announced changes in its top leadership structure, marking the first shake-up by Abdi Mohamed six months after his confirmation as the lender’s chief executive.
In the latest changes, the bank has introduced the role of chief operating and digital officer, as it looks to reposition its proposition to be a digitally led financial services institution. Recruitment for this position is underway.
“In line with our ambition to build a truly digitally powered financial institution that delivers excellent customer experience across all touchpoints, we have created the role of chief operating and digital officer at a managing principal level. This role will be responsible for driving our technology and innovations agenda,” Mr Mohamed said in a communication to staff.
Chief finance officer Yusuf Omari has been added responsibility to provide oversight of the bank’s treasury, strategy, transformation and sustainability functions. He has also been tasked with commercialisation of Absa’s new business arms with the bank having resumed its custodial services offering earlier this year after a 13-year long hiatus. The bank’s asset management business is also in its early days.
Further changes in the management shake-up at Absa have seen Moses Muthui redeployed from the position of chief strategy officer and head of corporate investment banking to consumer banking director, pending regulatory approval. Mr Muthui will oversee retail banking business.
“Moses will take overall responsibility for our sales and distribution, product proposition, cards and payments, bancassurance as well as asset management. Moses will continue to provide overall leadership to the marketing team” Absa told its staff.
Other changes in the management realignment include the promotion of chief risk officer Chiera Waithaka to managing principal and the elevation of Elizabeth Wasunna to country management committee director level spearheading the business banking division.
