Friday, November 2, 2012

Kiboro joins Family Bank as chairman

Outgoing Family Bank Chairman Mr Titus Muya (left) ushers in new chairman, Mr Wilfred Kiboro (right) on November 2, 2012. Photo/WILLIAM OERI

Outgoing Family Bank Chairman Mr Titus Muya (left) ushers in new chairman, Mr Wilfred Kiboro (right) on November 2, 2012. Photo/WILLIAM OERI  NATIONN MEDIA GROUP

By JOHN NJIRU [email protected]

Family Bank has appointed Wilfred Kiboro it's new chairman as it seeks to strengthen capacity at the board and management level.

Mr Kiboro, who until the end of October was the chairman of Standard Chartered Bank, will replace Titus Muya, who has headed its board for over 25 years.

"We welcome Wilfred Kiboro, a business entrepreneur, a magnate, a man we have come to know," said Peter Munyiri, the bank's chief executive.

The company started in 1984 as a building society firm, giving loans to tea farmers.

Mr Kiboro disclosed that Family Bank had engaged him relentlessly for the past six years.

"My announcement to my family members and friends that I would join this bank came with mixed reactions," said Mr Kiboro during a press briefing in Nairobi.

He will be chairman designate until December, and become fully acknowledged in January.

"I know the road ahead is not smooth but I believe the bank has what it takes to be the best in the region, and the world," said Mr Kiboro.

He comes at a time when Family Bank is embarking on the journey of raising capital in the market through rights issues and eventual listing on the Nairobi Securities Exchange.

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