Nairobi, KENYA:Equity Group Holdings Plc has confirmed and named Polycarp Igathe as the Managing Director of Equity Bank Kenya.
This marks the completion of the Group’s strategy of separating the management of its subsidiaries from that of the Holding Company.
Dr James Mwangi will now serve as the Group Chief Executive and Managing Director providing overall strategic direction and oversight to the Group.
Speaking while making the announcement, Dr. Mwangi said the board has completed the process of separating the operations and management of the Kenyan subsidiary from that of the Group and appointed Polycarp the Managing Director of Equity Bank Kenya.
“Polycarp’s strong values and passion have enabled him to quickly fit well in the Equity Group organizational culture.He has distinguished himself as a results-oriented and committed business leader who is renowned for fostering productive partnerships with external stakeholders and customers, resulting in the delivery of outstanding company results.” Dr Mwangi said
“He has taken over a very successful subsidiary and market leader. We believe he has the skills, competence, capability, and vision to retain Equity Bank Kenya in its leadership position while taking it to the next level.” Said, Dr Mwangi added.
Equity Bank is currently the largest bank in Eastern and Central Africa region with over 12.6Million customers, the largest in market capitalization and the second largest in the balance sheet.
His appointment comes just a few months after he resigned as the Nairobi city-county deputy governor.