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Remu picks ex-KCB manager as chief executive

The Central Bank of Kenya licensed Remu as
The Central Bank of Kenya licensed Remu as deposit-taking microfinance in 2011. FILE PHOTO | NMG 

Remu Microfinance Bank has tapped former KCB Group #ticker:KCB manager Gregory Siro as its new chief executive to replace ex-Equity Bank #ticker:EQTY executive David Irungu who left the company last year.

Company secretary Anne Otunga said Mr Siro will be tasked with growing the business, which last year raised new funds by increasing share capital to 500 million from Sh300 million.

Ms Otunga said Mr Siro who previously worked at KCB Group and Co-operative Bank #ticker:COOP took office last December 17.

“He is a seasoned banker with 15 years of experience in areas of business growth and development, relationship management and corporate client management,” she said.

Mr Siro studied at Kenyatta University where he graduated with a Bachelor of Commerce (banking and finance) degree and later with a Master in Business Administration (finance).

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He is also a Certified Security and Investment Analyst with additional qualifications in accounting and project management.

The Central Bank of Kenya licensed Remu as deposit-taking microfinance in 2011.

Its shareholders include private equity and fund management firm Fusion Capital, which took a 25 per cent stake in 2014.

The microfinancier has branches in Nairobi, Meru and Maua and targets small and medium-sized enterprises and individuals.

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