KCB Group Plc has announced the appointment of Paul Russo as the new Chief Executive Officer effective today, May 25, 2022.
Paul Russo who is the current National Bank of Kenya (NBK) CEO and KCB Group Regional Business Director takes over leadership of the giant lender from Joshua Oigara whose term has ended after nine and a half years.
“Paul Russo is the right person for the job and will take us to the next level in its growth ambitions to become the undisputed regional leader and drive much-needed business transformation for greater impact on economies and communities around us,”Andrew Kairu, KCB Group Chairman.
However, Oigara is expected to remain for an unspecified period to oversee the transition.
Oigara who was appointed CEO in 2013 has been accredited with steering the lender growth that has seen KCB Group expand its regional presence through acquisitions in Rwanda.
Under Oigara, KCB Group completed the acquisition of Banque Populaire du Rwanda Plc (BPR) from Atlas Mara Mauritius Limited and Arise B.V in August last year with approvals to merge the two entities being granted in March this year.
“Joshua has left a solid legacy for KCB 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,” added Kairu.
According to the bank, Russo brings a wealth of experience in banking, operational management, people management, strategy, and sharp business acumen.
Oigara leaves the bank with an asset base that has grown 192%, from Kes. 391 billion as at the end of December 31, 2013, to Kes. 1.14 trillion as of the close of December last year.
Paul Russo, the new CEO holds a Master’s Degree in Business Administration from Strathmore University Business School and a Bachelor’s in Business Management from Moi University.