SBM Bank Kenya has appointed former I&M Bank chief operations officer Bhartesh Shah as its new chief executive from May 9 to replace Moezz Mir who bows out after a six-year tenure.
The new appointee boasts over 20 years of experience in the financial services industry, having previously held executive positions at Equity Group, Standard Chartered Bank, Citibank and Midland Bank.
Mr Shah holds an MBA from the University of Warwick Business School as well as a Bachelor of Science in Banking and Finance from Loughborough University in the UK.
In his new role, he will be charged with driving the lender’s market share growth and leading the bank towards sustainable prosperity as it embarks on a new innovation journey.
“Mr Shah will assume the role of CEO, following the departure of Mr Moezz Mir who has served in this position for the past six years and now moves on to pursue other interests. During the transition period, Mr Mir will be on hand to provide support and ensure a seamless handover,” SBM said in a statement.
SBM board chairman Sattar Abdoula has expressed confidence in Shah’s pick. “He is a well-suited candidate for the position and will lead the bank in achieving its growth goals to become the predominant leader in the Kenyan market,” stated Abdoula.
SBM entered Kenya in May 2017 through the acquisition of the then-Fidelity Commercial Bank (FCB) by Mauritius’ SBM Group.
The lender’s net earnings jumped 15.6 percent to Sh150.8 million up from Sh130.5 million in 2022.
