Family Bank names new CEO

A Family Bank outlet in Nairobi. David Thuku has been named the lender's new CEO. FILE PHOTO | EVANS HABIL | NATION MEDIA GROUP

What you need to know:

  • Prior to joining the lender, Mr Thuku held several senior positions over a period of two decades at Standard Chartered Bank and Barclays Bank.

Family Bank has picked David Thuku as its new CEO to replace Peter Munyiri who is set to leave in June when his contract expires.

Mr Thuku, an insider of the home-grown lender, has served as Family Bank’s Director of Retail Banking since 2013.

Mr Munyiri was at the lender's helm for five years.

“Mr Thuku’s appointment heralds the Bank’s renewed consumer focused initiatives that are aimed at providing unparalleled banking products and services. We are certain that Mr Thuku will offer his vast experience and together with our competent management team and staff, propel the bank to even greater heights, ” said Family Bank chairman Wilfred Kiboro of his appointment.

Prior to joining the lender, Mr Thuku held several senior positions over a period of two decades at Standard Chartered Bank and Barclays Bank.

“The new CEO will be charged with steering Family Bank’s strategy forward by positioning the lender as a one-stop shop providing a combination of retail and consumer products, SME, corporate banking as well as trade finance products,” said Family Bank in a statement.

Family Bank posted a Sh1.98 billion full-year net profit in the period ended December 2015.

The institution started in 1984 as a micro financier — Family Finance Building Society — before converting into a fully-fledged commercial bank in May 2007.

The lender currently has 91 branches.