Newly appointed Chief Executive Officer of I&M Bank Limited Abdi Mohamed./HANDOUT
The Board of I&M Group PLC has appointed Abdi Mohamed as the Kenya, subject to approval by the Central Bank of Kenya.
In a notice to shareholders issued on Monday, the Board said Mohamed joins I&M Bank from Absa Bank Kenya PLC, where he served as Chief Executive Officer and Managing Director.
The Board said Mohamed brings more than 30 years of leadership experience in banking and financial services, spanning retail and corporate banking, operations, risk management, digital transformation and strategic leadership across multiple African markets.
Over the years, Mohamed has held a number of senior executive positions across the Absa and Barclays franchises. These include leading Absa Bank Tanzania as Managing Director and CEO, serving as Chief Operating Officer at Barclays Bank Kenya, and overseeing retail and business banking operations in Kenya and Zambia.
"The Board of I&M Group PLC is pleased to announce the appointment of Abdi Mohamed as the Chief Executive Officer of I&M Bank Limited. His appointment remains subject to the approval of the Central Bank of Kenya," the notice states.
The Board expressed confidence that Mohamed's experience will steer the bank through its next phase of growth.
"The Board is confident that Mr Mohamed's extensive experience, strategic leadership and deep understanding of the financial services sector will guide the Bank as it embarks on its next phase of growth and transformation," the statement says.
The lender also announced that Kihara Maina will continue serving in his dual role as Interim Chief Executive Officer of I&M Bank Kenya and regional CEO of I&M Group during the transition period.
According to the Board, Maina will remain in the position until the regulatory approval process relating to Mohamed's appointment has been concluded.
"The Board is pleased to welcome Mr Abdi Mohamed to I&M Bank and wishes him the very best in his role," the statement says.
