Equity Bank has appointed a new managing director to replace the outgoing Polycarp Igathe.
The long-serving director, Gerald Warui, is now set to become the banking giant’s fourth managing director, stepping into the shoes of Igathe, who is set to leave at the end of August.
Igathe, who resigned from the bank, will join his previous employer to pick up a new role at Vivo as Executive Vice President of Sales and Marketing for Africa.
A statement sent to newsroom indicates that Warui has served for 21 years at Equity Bank before his new appointment.
The Certified Public Accountant CPA (K) also holds an Executive Master of Business Administration degree from Jomo Kenyatta University of Agriculture and Technology (JKUAT).
He is a graduate of the Advanced Management Program offered by IESE Business School, Barcelona, Spain.
He also boasts of vast experience spanning over 30 years and has headed operations, customer service and human resource (HR) within the Group.
Warui, who is currently the Director of Operations and Customer Service in Equity Bank Kenya, is still subject to approval by the Central Bank of Kenya.
“The Board thanks Mr Igathe for his dedicated and impactful service to Equity and wishes him well in his new role with one of the Equity’s most valued partners and look forward to deepening the existing relationship across the continent,” read a statement to newsrooms.
This comes after Igathe, who has been the MD at Equity Bank was appointed by Vivo energy.
The former deputy governor was initially the chief operating officer at the bank and was promoted when it separated the management of its subsidiaries from the holding company.
This was after his resignation from the County Government of Nairobi, as Governor Mike Sonko's deputy in January 2018.
