Bank of Africa, CIC seek new top executives to drive growth
CIC Insurance customer care official serves a customer. PHOTO | FILE
What you need to know:
BOA has appointed PwC to hire its new chief executive, a position currently held in an acting capacity by Anis Kaddouri.
CIC is looking for a managing director to head its general insurance unit where Dickson Ireri is the acting boss.
Bank of Africa Kenya (BOA) and a subsidiary of insurance firm CIC are seeking new chief executives to drive their growth agenda.
BOA has appointed consultancy firm PriceWaterhousecoopers (PwC) to hire its new chief executive, a position currently held in an acting capacity by Anis Kaddouri.
CIC is looking for a managing director to head its general insurance unit where Dickson Ireri is the acting boss. Kenneth Kimani previously held the position.
The candidate is expected to have a Masters degree in a business field and professional qualifications in insurance and/or actuarial, accounting or financial analysis.
Applicants are also required to have at least 10-year experience in senior management in the insurance industry.
CIC says it expects the individual to craft and implement the strategy for what is its most important business segment.
General insurance, including motor vehicle and fire covers, accounted for 69.3 per cent of the Nairobi Securities Exchange-listed firm’s total gross premiums of Sh13.3 billion last year.
BOA will be hiring a substantive CEO to fill the position that Mr Kaddouri has held in an acting capacity since September when he took over from Kwame Ahadzi.
The bank is looking for a candidate with a Bachelor’s degree in commerce, business administration or related fields from a reputable institution.
Applicants are also required to have an MBA degree or relevant postgraduate qualifications and a minimum of 15 years’ experience with at least five years in a senior management position.
The new CEO will be charged with leading the development and implementation of strategic plans to grow profits and shareholder value.
BOA’s parent is majority owned by Morocco’s BMCE Group which bought into the multinational in 2010.
The local subsidiary started operations in 2004 after acquiring the Kenyan branch of Credit Agricole.
It has built a strong presence in corporate banking and is also increasingly diversifying into the SME segment amid new capital injections by BMCE.
The impending appointments by BOA and CIC mark the few executive changes that have taken place so far this year.
Others include the retirement of Uchumi Supermarkets CEO Jonathan Ciano whose substantive replacement is also being sought.
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