Equity Bank picks Moses Nyabanda to replace outgoing MD Gerald Warui

Equity Bank Kenya has picked Moses Okoth Nyabanda as the new acting managing director subject to approval by the Central Bank of Kenya.

He will be replacing the outgoing and long-serving executive Gerald Warui, who has been with the lender since 1998.

"The appointment follows the Board's acceptance of  Gerald Warui's request for early retirement," the lender said in a statement.

"The Board wishes to thank Warui for his long and dedicated service to the Group which included heading operations, customer service, HR and finally, Equity Bank Kenya as Managing Director."

Nyabanda, who is an insider, has been serving as the Group's chief finance & strategy execution officer.

Before joining Equity Group, Nyabanda was the managing director and country senior partner for PricewaterhouseCoopers (PwC) in Rwanda and a member of the PwC Eastern Africa leadership team.

According to the lender, he has a proven track record of leading effective teams, strategic planning, driving business growth and delivering impactful solutions to businesses and governments in Kenya, Rwanda, Uganda, and the United Kingdom.

While at PwC, he was responsible for driving operational efficiency including resource planning, digital transformation, innovation, and cost management at PwC Eastern Africa.

"At Equity Group, Nyabanda is a key member of the executive team who has demonstrated commitment to the Group's corporate philosophies and customer value creation," the lender added in part.

"Throughout his career, Nyabanda has distinguished himself as a disciplined and thorough professional, demonstrating exceptional leadership in promoting robust control environments and productivity."

Nevertheless, the lender notes that it is confident that under Nyabanda's leadership, it will continue to deliver sustainable profitable growth while enhancing our customer value proposition and employee engagement.

Notably, Warui's departure follows the departure of another long-serving executive, Mary Wamae, who served as the Group's executive director.