The Central Bank of Kenya (CBK) has approved the appointment of Mr Paul Russo as the managing director of the National Bank of Kenya (NBK), following its merger with the Kenya Commercial Bank (KCB).
Mr Russo was appointed to the position early this month and will lead the integration of NBK into KCB, taking over from Wilfred Musau, the outgoing NBK MD and CEO who has been assigned a new role at KCB Group to support the integration.
On Thursday, the CBK gave a fit to serve approval for Mr Russo who is the KCB Group Director of Regional Businesses and previously served as KCB Group Human Resource Director.
Read: KCB Names Paul Russo as NBK Managing Director as Merger Concludes Despite Protests
KCB commenced the integration activities on September 6, 2019 following approvals by the CBK, and plans to fully integrate NBK into KCB within the next 24 months.
“I have full confidence that Mr Russo will steer NBK in the right direction and succeed in the integration task ahead. I wish to assure NBK customers that they will continue to receive enhanced products and services throughout the integration period and that they should rest assured that they are now part of a bigger and stronger family,” said KCB Group Chief Executive Officer and Managing Director Joshua Oigara.
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