The KCB Group PLC Board has today appointed Paul Russo as the company’s Group Chief Executive Officer effective May 25, 2022.
Paul Russo will replace Mr Joshua Oigara who has been the GCEO for the last nine and a half years.
Paul Russo has been the managing director of the KCB subsidiary National Bank of Kenya (NBK).
Mr. Russo is a human resources professional who turned around NBK, which KCB acquired in 2019.
“Paul Russo is the right person for the job & will take us to the next level in its growth ambitions to become the undisputed regional leader and drive much-needed business transformation for greater impact of economies and communities around us.” said KCB Group Chairman Andrew Kairu.
Mr. Russo was the Group’s head of human resources before being named CEO of NBK in 2019, following KCB’s takeover. He has also worked with Barclays, now Absa, and the audit firm PwC.
Mr. Oigara’s term was quietly extended by the lender in March to allow it to hunt for a successor.
The extension, till December 31, was the second for the 47-year-old, who had previously stated that he was willing to conclude his nine-year term at the end of last year.
“Joshua Oigara will be available for a period of time to support a smooth transition. The appointment follows a competitively run selection process that kicked off in March 2022.” said the board in a statement.
“Joshua has left a solid legacy for KCB across Africa & beyond that is dotted by transformation of millions of lives, enhanced financial inclusion across the region, digital banking innovations & has built a Group that is anchored on sustainable business practices.” added Andrew Kairu.
Paul Russo holds an MBA from Strathmore Business School and a Business Management degree from Moi University. He also holds a senior executive program for Africa certificate from Harvard Business School and a higher diploma in human resource management from the Institute of Human Resources Kenya.