KCB Bank has appointed Paul Russo as its Chief Executive Officer (CEO) effective May 25, 2022.
He replaces Joshua Oigara who has held the position for the last nine and a half years. Oigara will be available for a period of time to support a smooth transition.
The appointment follows a competitively run selection process that kicked off in March 2022.
Russo is currently the Managing Director of the National Bank of Kenya and the KCB Group Regional Business Director. He has over 20 years of work experience spanning executive and key roles including Group Human Resources Director at the lender.
He holds an MBA from Strathmore University Business School and a Bachelor of Business Management from Moi University.
He also holds a Senior Executive Program for Africa Certificate from Harvard Business School and a Higher Diploma in Human Resource Management from the Institute of Human Resource Management (Kenya).
“He is, therefore, the right person for the job and will take the Group 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,” said KCB Group Chairman Andrew Wambari Kairu.
“During his tenure at NBK, he has executed a significant turnaround, moving the previously lossmaking business into profitability and on a trajectory for stronger growth into the future,” said the Group Chairman.
KCB’s Board also commended Oigara for his service to the Group since joining in 2011.
“Joshua has had a fantastic run as the Group CEO and MD and has led the Group through its fastest growth in a decade. He has left a solid legacy for the Group across Africa and beyond that is dotted by transformation of millions of lives, enhanced financial inclusion across the region, digital banking innovations and has built a Group that is anchored on sustainable business practices,” he added.