The KCB Group PLC Board has  appointed Paul Russo as the company’s Group Chief Executive Officer (GCEO) effective May 25, 2022.

Russo,  now replaces  Joshua Oigara who has been the GCEO for the last nine and a half years.

Russo is currently the Managing Director National Bank of Kenya and the KCB Group Regional Business Director, and  brings a wealth of experience in banking, operational management, people management, strategy, and a sharp business acumen.

He is further lauded for consistently being a great leader of outstanding performance. Over the past 8 years while at KCB, he has been involved in the running of key strategic assignments within the Group business, lately looking after the regional businesses (KCB’s businesses in Tanzania, Rwanda, Burundi, Uganda, South Sudan as well as KCB Capital and KCB Bancassurance Intermediary) and National Bank of Kenya.

In a statement , KCB Group said Oigara will  be available for a period of time to support a smooth transition.

“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.

He added:

“During his tenure at NBK, he has executed a significant turnaround, moving the previously lossmaking business into profitability and on a trajectory for stronger growth into the future.”

The Board commended Oigara 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 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,” the Group Board Chairman  said.

The appointment follows a competitively run selection process that kicked off in March 2022.