BY PHOEBE WANJOHI.
KCB Group has appointed Paul Russo as the company’s Group Chief Executive Officer (GCEO) replacing long serving boss Joshua Oigara.
Russo takes over from Oigara immediately after turning around the lender into a regional giant.
The lender said in a statement that Russo’s appointment follows a competitively run selection process that kicked off in March 2022.
The bank added that Oigara will be available for a period of time to support a smooth transition
Before the new changes, Russo was the Managing Director 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, KCB Group Plc.
“Paul brings a wealth of experience in banking, operational management, people management, strategy, and a sharp business acumen,” the lender said in a statement.
Russo 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).
“Paul has consistently been a great leader of outstanding performance. Over the past 8 years while at KCB, he has been involved in the running of key strategic assignments within the Group business, lately looking after the regional businesses (KCB’s businesses in Tanzania, Rwanda, Burundi, Uganda, South Sudan as well as KCB Capital and KCB Bancassurance Intermediary) and National Bank of Kenya,” KCB added.
The lender added that Russo was 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.
“During his tenure at NBK, he has executed a significant turnaround, moving the previously loss making business into profitability and on a trajectory for stronger growth into the future,” said the Group Chairman.
The Board also commended the outgoing CEO 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.