National Bank opens search for top executives

The National Bank of Kenya's branch in Nyeri town. The lender Tuesday publicly advertised the key positions of chief finance officer, ICT director, chief risk officer and director of credit. FILE PHOTO | JOSEPH KANYI | NATION MEDIA GROUP

The National Bank of Kenya has opened the search for four senior executives to replace those who left in April.

The State-owned lender Tuesday publicly advertised the key positions of chief finance officer, ICT director, chief risk officer and director of credit; but remained mum on the CEO’s position which fell vacant following the acrimonious sacking of Sheikh Ahmed Munir.

This followed the exit of Chris Kisire (CFO), Mohamed Abdalla (ICT director), George Jaba (chief risk officer) who were earlier sent on forced leave and later relieved of their duties in April after National Bank reported a surprise Sh1.15 billion full-year loss.

Wilfred Musau, bank’s director, retail and premium banking, is currently acting managing director at NBK pending fresh recruitment of a CEO.

“The CEO’s recruitment will be handled separately by the board,” said a spokesperson at National Bank who declined to give any further details.

The lender is also not seeking to replace Boniface Biko, who was executive director in charge of corporate institutional and business banking.

“National Bank is seeking to recruit highly competent, motivated and professional individuals to fill the following positions,” said the lender, which has hired PricewaterhouseCoopers (PwC) to spearhead the executive search.

Those eyeing the crucial CFO position need to hold an undergraduate degree in accounting or finance, an MBA, and professional qualifications such as Certified Public Accountant (CPA), backed by at least 10 year-experience with five years in a similar role.

Henry Maosa, NBK head of strategy and projects, is currently the acting CFO, while Shadrack Kiamuko is interim ICT director.

Mr Kisire joined National Bank in August 2013 but was suspended in April 2015, after he was named in President Uhuru Kenyatta’s ‘List of Shame’ linked to alleged gross mismanagement at Mumias Sugar where he held a similar position.

Mr Abdalla, who previously worked at National Australia Bank, was hired at NBK in March 2013. Mr Jaba joined NBK in September 2014 and has more than two decades' experience in the banking sector.