Equity Bank has gone for an insider to replace Mr. Polycarp Igathe who has opted to return to Vivo Energy as Vice President for Sales and Marketing Africa.
The Bank has promoted its director of operations and customer service Gerald Warui to become its Managing Director, from September, a move that will ensure smooth transition.
“The Equity board received and accepted Mr Igathe’s resignation letter following his eight-month tenure in the role,” the lender said in a statement.
“To ensure a smooth transition of operations, Mr. Igathe will hand over his duties to Mr. Warui before his departure at the end of August.”
Mr. Warui has served Equity Bank for 21 years. He holds an Executive Master of Business Administration degree from Jomo Kenyatta University of Agriculture and Technology (JKUAT) and is also a Certified Public Accountant CPA (K), and a graduate of Advanced Management Programme offered by IESE Business School, Barcelona, Spain.
A career banker, Mr. Warui has vast experience in human resource, operations and customer service.
Equity Group’s chief executive James Mwangi remains in charge of the holding company and provides overall strategic direction and oversight for the Kenyan operation and other subsidiaries. Equity and other Kenyan banking multinationals adopted this structure and operational system to boost management focus of the subsidiaries and their supervision by their parent companies.