Equity Bank taps internal talent in restructure
June 6th 2013.. Equity Bank has notified the NSE, Capital Markets Authority and CBK of its decision to reorganize its finance function both at the Group level as well as the Kenyan subsidiary. The Board reached this decision following transitions that have taken place at the top level management of this function within the Group.
Releasing the new structure, the Chief Executive Officer of Equity Bank Group Dr James Mwangi said; “the Board has approved the promotion of John Staley to an expanded role of Chief Officer in charge of Finance, Innovation and Technology. He will be supported in the finance role by two senior executives, Fredrick Omondi as the General Manager Finance - Financial Controls & Systems and Sammy Kamanthi Ndetiu as the General Manager Finance – Business Performance & Financial Reporting.” In addition, the Board has promoted Joseph Iha currently Executive Director Equity Bank Tanzania to the position of Managing Director.
Dr Mwangi added “The Board has considered internal promotions to tap into the depth, experience, capacity and the cultural strength existing within the Group. The growth of Equity Bank into a global brand in recent times has attracted highly talented professionals especially from the Diaspora and many qualified individuals are choosing to return home and offer their skills working for rapidly regionalizing corporations particularly in the financial services which have grown from a consolidated balance sheet of KShs 200 billion to over KShs 2 trillion over the last ten years. The immense growth of the sector has strained the human resource base within the industry and created significant demand for qualified human resource. Dr Mwangi further noted that Equity Bank has invested heavily in training and leadership development especially at the middle level management and will therefore continue to tap within the internal resource pool to fill the vacancies which may arise from intensified demand for professional staff.
As a market leader in customer efficiency and profitability, banks are tapping into Equity Bank’s talent through vertical movement.
The Bank thanks Samuel Makome and Collins Ottiwu the outgoing MD Equity Bank Tanzania and Finance Director respectively for their contribution to Equity Group over their tenure and wishes them well in their future endeavors.
Chief Officer - Finance, Innovation and Technology
John first joined Equity Bank in 2003 as Director of Operations and is currently the director of Mobile Banking and Payment Innovations.
He has vast experience in the finance sector and before joining Equity Bank, he held various positions in the financial services sector including that of Chief Executive Officer of Credit Indemnity which became the largest provider of micro finance in South Africa. He also worked previously for Credit Suisse First Boston in London.
John is a Chartered Accountant and holds a Masters’ of Science in Applied and Computational Mathematics. He also holds a Bachelor of Science in Physics as well as a Bachelor of Commerce degree.
Managing Director, Equity Bank Tanzania
Joseph Iha has been promoted to the position of Managing Director, Equity Bank Tanzania. Joseph joined Equity Bank in 2005 and has held various positions in Credit, Corporate banking, Operations and most recently, the Executive Director Equity Bank Tanzania.
He holds a Bachelor of Education in Accounting and Mathematics from the University of Nairobi and has also attended various professional courses in banking and leadership. He has over 12 years banking and leadership experience. Prior to joining Equity Bank Tanzania, he worked as the General Manager, Equity Bank Uganda and General Manager, Corporate lending at Equity Bank Kenya.
Fredrick Omondi, General Manager Finance -Financial Controls & Systems
Fredrick has been promoted from the position of Assistant General Manager-Audit to take up the position of General Manager-Finance. He has over ten years experience in internal auditing, risk management, controls, governance and financial management. He joined Equity Bank in 2004.
He holds a Bachelors of Business Administration Accouting Option from Maseno University; he is a Certified Internal Auditor (CIA) and a Certified Public Accountant (CPA) as well as a certified IIA Global trainer and facilitator. He previously worked for KRep Bank and NIC Bank as internal auditor
Sammy Kamanthi Ndetiu, General Manager Finance– Business Performance & Financial Reporting
Sammy holds a Bachelor of Commerce Accounting option (1st class honors) from Kenyatta University and is a Certified Public Accountant (K). He also holds a Masters in Business Administration from the Edinburgh Business School-UK and a Masters in International Development studies (Development Economics) from National Graduate School of Policy Studies (GRIPS) in Japan.
Sammy joined Equity Bank as Finance Manager in 2012. Prior he worked at the Central Bank of Kenya for over ten years following a stint at Kenya Airways.