Barclays building in Nairobi. Jeremy Awori has taken over as head of Barclays Bank of Kenya. File
Former Standard Chartered executive Jeremy Awori has taken over as head of Barclays Bank of Kenya and pledged he would deepen the lender’s business to include investment banking and insurance services.
Mr Awori, 43, on Friday assumed the managing director’s role at the Kenyan unit following the promotion of Adan Mohamed who moves to the Africa office as chief administrative officer.
Mr Awori will be reporting to Mr Mohamed under the new structure consolidating the bank’s holding on the continent under one wing to be owned by its parent company under South Africa’s Absa Group.
The bank, which has a heavy presence in corporate and retail lending, is seeking to adopt the financial supermarket status covering corporate deals, selling insurance, and loans.
“The consolidation offers opportunities for Barclays in Kenya to go big in offering new products like investment banking, bancassurance, and project finance,” said an executive at the bank who sought anonymity. “And Mr Awori will offer leadership in this agenda.”
Mr Awori was the CEO of Standard Chartered Tanzania.
Integrated financial services models are increasingly taking route in Kenya.
BBK’s net profit increased 2.2 per cent to Sh6.2 billion in the period to September on lower growth of its interest income relative to its peers StanChart, KCB and Equity Bank that reported double digit growth in earnings.
PAYE Tax Calculator
Note: The results are not exact but very close to the actual.
