Annastacia Kimtai has been appointed as the managing director of KCB Bank Kenya.
Ms. Kimtai has been quietly serving as the acting managing director since December, doubling with her role as KCB Bank Kenya retail banking director.
In an internal memo, KCB Group chief executive Paul Russo announced the changes to staff, with Ms. Kimtai officially starting her role on April 12, 2023.
“I take this opportunity to congratulate Annastacia on this appointment and request that we all accord her all the support to execute her mandate,” said Mr. Russo.
“The changes are aligned with the expectations of the CBK prudential guideline on corporate governance. The introduction of the position of managing director KCB Bank Kenya is to help drive the Kenya business and free up the Group CEO to focus on accelerating the Group expansion agenda.”
He said the move aligns with the Central Bank of Kenya Prudential Guidelines on Corporate Governance.
The guidelines require the separation of subsidiaries from the holding companies’ management.
