Equity Bank Group has an insider Gerald Warui as its managing director following the resignation of Polycarp Igathe.
Mr Warui, a long-serving director who has worked for the bank for 21 years, will be taking over from Mr Igathe who leaves at the end of next month.
“[Equity Group] today announced the appointment of its long serving Director, Gerald Warui as its 4th Managing Director in its 35-year history.
“The Equity Board received and accepted Mr Igathe’s resignation letter today following his eight-month tenure in the role. To ensure a smooth transition of operations Mr Igathe will hand over his duties to Mr Warui before his departure at the end of August,” a statement from the bank said on Monday.
Mr Igathe will be rejoining his previous employer, Vivo, as executive vice president of sales and marketing for Africa, a newly created position.
The incoming MD has served the bank group as head of various functions at the bank. He is currently the director of operations and customer service.