Paul Russo has been named Group Chief Executive Officer (GCEO) of Kenya Commercial Bank, KCB, Group PLC, starting May 25, 2022.
Mr. Joshua Oigara, the GCEO for the past nine and a half years, has been replaced. Joshua will be present for a short period to help with the transition. The appointment was made after a rigorous selection process that began in March 2022.
Paul has a plethora of financial, operational, people, and strategic experience, as well as a keen business sense. He is the Managing Director of the National Bank of Kenya and the Regional Business Director of the KCB Group. He has over 20 years of senior and critical responsibilities experience, including Group Human Resources Director at KCB Group Plc.
He graduated from Moi University with a Bachelor of Business Management and an MBA from Strathmore University Business School. He also has a Harvard Business School Senior Executive Program for Africa Certificate and an Institute of Human Resource Management Higher Diploma in Human Resource Management (Kenya).
Paul has always been a strong leader who regularly delivers. He has spent the last eight years with KCB working on major strategic tasks within the Group company, most recently overseeing the regional businesses (KCB’s operations in Tanzania, Rwanda, Burundi, Uganda, and South Sudan as well as KCB Capital and KCB Bancassurance Intermediary) and National Bank of 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 adding that the Board is confident that he will carry on with the Group’s resolve to simplify the world of our stakeholders to enable their progress.
“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 commended Joshua 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 the 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.
The board appreciates Joshua’s immense contributions and wishes him well in his future endeavors.