NAIROBI, Kenya, Oct 12 – Wilfred Mutuku Musau has been confirmed as the new Managing Director for National Bank of Kenya effective October 10.
Musau has been in an acting capacity since April this year after the exit of the then MD Munir Mohamed who was sent home among other officials due to allegations of mismanagement and poor governance.
“The Board of Directors of National Bank of Kenya Limited wishes to announce the appointment of Wilfred Mutuku Musau as the Managing Director and Chief Executive Officer of NBK. This appointment will be for an initial period of five years effective October 10, 2016,” the board said on Tuesday.
Before his appointment, Musau was the Director in Charge of Retail and Premium Banking Division at the bank since September 2015.
The NBK board says his confirmation as the MD follows his demonstration of stewardship of the bank’s operations through a difficult first half of this year.
“This announcement is made pursuant to Regulation (1) (f) and (2) of the Capital Markets (Securities) (Public offers, listings and disclosures) Regulations 2002, promulgated under the Capital Markets Act,” the board said.
Musau is a Bachelor of Commerce degree holder from Kenyatta University – Major in Banking and Finance and holds various Management Master class certifications in banking.
Prior to joining NBK, Musau held various senior management positions at NIC Bank, Barclays Bank of Kenya, KCB and Standard Chartered Bank.