Equity Bank announces leadership change after MD's early exit

Equity Bank Kenya Limited has announced a leadership change following the departure of its long-serving Managing Director, Gerald Warui.

In a public statement released on Friday, the bank's board revealed that Moses Okoth Nyabanda, the Group Chief Finance and Strategy Execution Officer of Equity Group Holdings Plc, has been appointed as the acting Managing Director of Equity Bank Kenya.

Nyabanda's appointment is subject to the approval of the Central Bank of Kenya.

Warui, who had been at the helm of Equity Bank Kenya since his appointment in 2019, has opted for early retirement.

The bank's board expressed gratitude for his significant contributions, which encompassed overseeing operations, customer service, human resources, and ultimately, the entire bank as Managing Director.

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Details of acting MD Moses Okoth Nyabanda

Before joining Equity Group, Nyabanda held a senior position at PricewaterhouseCoopers (PwC) in Rwanda.

His extensive experience in leadership, strategic planning, and business growth is expected to be instrumental in driving Equity Bank Kenya forward.

The bank, a subsidiary of Equity Group Holdings Plc, is a major player in the Kenyan and regional financial landscape.

Equity Group is the largest integrated financial services firm in the region with a market capitalization of $1.38 billion as of August 16, 2024.

As at June 30, 2024, the group had an asset base of $13.51 billion, customer deposits of Sh1.299.5 trillion, and a customer base of 20.7 million.