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Polycarp Igathe returns to Equity Bank as Group CCO

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Equity Bank Group MD James Mwangi with then Equity Kenya MD Polycarp Igathe (left). FILE PHOTO | DIANA NGILA | NMG

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Summary

  • The former Nairobi deputy governor quit Vivo Energy on Friday to rejoin Equity.
  • Mr Mwangi said Mr Igathe will head the commercial function of the Group subject to approval from the Central Bank of Kenya.

Polycarp Igathe has returned to Equity Bank #ticker:EQTY to take up his position as Chief Commercial Officer just days after resigning from Vivo Energy.

Mr Igathe, a former deputy governor of Nairobi, had doubled up as the managing director for the lender's Kenyan operations before quitting to take up the position of executive vice president for sales and marketing in Africa at Vivo Energy last September.

In a statement Monday, Equity Group Holding chief executive James Mwangi said the appointment takes effect immediately for a period that he did not disclose.

“I left part of my heart in Equity, because I saw the immense potential it holds to transform Africa into a social economic powerhouse creating opportunities for wealth creation for our people through integrated financial services solutions,” Mr Igathe is quoted in the statement.

“Indeed, financial services are at the heart of any social economic transformation. I have made a conscious decision to resume my role at Equity and continue what I started. I am glad that the board has given me another chance.”

Mr Mwangi said Mr Igathe will head the commercial function of the Group subject to approval from the Central Bank of Kenya.

“We welcome Polycarp back to Equity and we are excited that he will continue with his role as the group chief commercial officer,” said Mr Mwangi.

Vivo, where Mr Igathe was the MD of its Kenyan operations before momentarily joining politics as deputy governor Nairobi in 2017, announced his resignation on Friday, six months after his return.

He deputised Nairobi Governor Mike Sonko for five months before quitting in January 2018. The position at City Hall remains vacant.

Mr Igathe has also served as Haco Industries MD and as chairman of both the Kenya Association of Manufacturers (KAM), and Kenya Private Sector Alliance (Kepsa).