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K-Rep picks turnaround artist in change of guard

K-Rep Bank managing director Kimanthi Mutua. K-Rep Bank has been trying to turn round its performance after is survived a protracted management tussle over strategy. Photo/FREDRICK ONYANGO

Veteran banker Albert Ruturi has replaced long-serving K-Rep Bank managing director Kimanthi Mutua in what analysts see as the micro lenders quest to chart a new course that will help it ride the recovery wave.

The change of guard is being seen as part of a mission by the shareholders to inject fresh ideas and direction in the 26-year-old bank that is facing stiff competition in a market of multiple players.

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