The Kenya Commercial Bank (KCB) has confirmed Paul Russo as the new group Chief Executive Officer following the exit of Joshua Oigara.
Meet new KCB CEO Paul Russo
The appointment follows a competitively run selection process that kicked off in March 2022
Russo had served as Director at National Bank of Kenya (NBK) before it was acquired by KCB in 2019.
He transitioned into KCB’s Director of Regional Businesses and was appointed to lead the takeover of NBK which was on the verge of collapsing because of corruption and mismanagement.
Russo takes over the management of a group that has expanded beyond the Kenyan borders and currently boasts of over 26.8 million accounts and 4,900 employees in 222 branches. Kenya leads with 178 branches, 20 in South Sudan, Tanzania with 12, Uganda with 14, Rwanda with 11 and Burundi with one.
KCB group has said Oigara will be available for a period of time to oversee a smooth transition noting that Russo comes in with great experience and that he is the right man for the job.
“Paul Russo is the right person for the job and will take us to the next level in its growth ambitions to become the undisputed regional leader and drive much-needed business transformation for greater impact of economies and communities around us” KCB group Chairman Andrew Kairu said.
Kairu praised Oigara’s tenure noting that he has left a big legacy based on sustainable business practices.
“Joshua has left a solid legacy for KCB across Africa & beyond that is dotted by transformation of millions of lives, enhanced financial inclusion across the region, digital banking innovations & has built a Group that is anchored on sustainable business practices" Kairu noted.
Russo whose term begins on May 25 has previously served in Barclays Bank now Absa, Unga Limited and audit group PriceWaterhouseCoopers.
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