Martin Oduor-Otieno takes job at Deloitte

Martin Oduor-Otieno. FILE

Former KCB chief executive Martin Oduor-Otieno has been hired by audit firm Deloitte, his third public appointment since retiring from the bank in January.

Deloitte on Monday said Mr Oduor-Otieno has joined the firm as a senior advisor (financial services), a role that is equivalent to a partner or shareholder.

The audit firm reckons that theformer CEO will help it tailor its products to meet the needs of the market and help win new clients in a competitive business dominated by the Big Four-— PriceWaterhouseCoopers (PwC), Deloitte, Ernst & Young and KPMG.

In February, Mr Oduor-Otieno was appointed to the board of East African Breweries Limited (EABL) and last month was tapped to chair a committee appointed by the Public Service Commission (PSC) to review the pay and allowances of the National Intelligence Service.

“We are pleased to have on board one of the best financial minds in the region join our team. His experience in the banking industry will bolster service offering to financial service industry clients served by Deloitte in EA ,” said Sammy Onyango, the CEO of Deloitte East Africa.

“The assignment is a partner equivalent and is a day-to-day job that comes with a fixed compensation, unlike traditional equity partners who share profits.”

Deloitte will be keen to use Mr Oduor-Otieno to get a larger share of the lucrative financial services market.

Among the listed banks the firm looks at the books of National Bank of Kenya after NIC Bank announced it will be switching to PwC, which along with KPMG dominate the audit work of the Nairobi bourse-listed lenders.

Mr Oduor-Otieno, 57, holds an MBA from ESAMI/Maastricht Business School and a Bachelor of Commerce degree from the University of Nairobi. He also sits in the British American Tobacco (BAT) board.

He opted not to renew his tenure at KCB after the expiry of his second two-year term. He joined the bank in October 2005 as deputy to then CEO, Terry Davidson, and took over in May 2007.

Under his leadership, KCB grew its profits from Sh2.9 billion in 2007 to Sh11 billion last year, a feat that saw it topple Barclays as the country’s most profitable lender.

Its branches also grew from 100 to 230 as it spread its wings to Uganda, Rwanda, Burundi and South Sudan, making KCB the first Kenyan bank to have a presence in all the six Eastern Africa countries.