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In a statement, the bank says Gachora will formally take over office in September this year/FILE

Kenya

Gachora named new NIC Bank boss

In a statement, the bank says Gachora will formally take over office in September this year/FILE

In a statement, the bank says Gachora will formally take over office in September this year/FILE

NAIROBI, Kenya, Jul 25 – NIC Bank has appointed John Gachora the new Managing Director to replace James Macharia who was appointed Health Cabinet Secretary.

In a statement, the bank says Gachora will formally take over office in September this year.

Prior to the appointment, Gachora was Head of Corporate and Investment Banking for Barclays Africa based in South Africa where he will continue working before taking up the new post.

“We write to inform you that the Board of NIC Bank has recruited John Gachora to succeed James Macharia,” read the letter addressed to the Central Bank of Kenya. “An application to the Central Bank for the approval of Mr Gachora’s appointment will be submitted in due course.”

NIC Bank’s Executive Director for Corporate Banking Allan Dodd has been acting MD since Macharia was picked to join the government.

Gachora has served as the CEO of Absa Africa, which is expected to change its name to Barclays Africa, Managing Director, Bank of America Investment Banking in Charlotte, North Carolina, USA and the Vice President, Credit Suisse First Boston in the USA.

He holds a Masters in Business Administration from the University of Pennsylvania, Masters and Bachelors of Science in Electrical Engineering and Computer Science in Engineering from Massachusetts Institute of Technology, USA.

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