The Board of Equity Bank has announced the retirement of its Founder and Chairman Peter Munga and the appointment of Mr. David Ansell Vice Chairman as Chairman Designate.
Peter Munga who has been the Founder Chairman since 1984 expressed his desire to retire from the Board to mark his 35 years of service as he celebrates his 75th birthday.
“Dr. Munga and Mr. Ansell will work collaboratively to ensure a smooth transition is completed by the time of the next AGM in 2019……. In his 35 years of outstanding service, Dr. Munga has led the bank through dynamic times in the banking industry, starting with its critical role in democratizing banking in Kenya and the region. He retires at a time when Equity Group is a market leader at its peak.” The company said in a statement.
Dr. Munga has seen Equity grow from a rural building society to become one of Kenya’s top banks both is assets and market share with a footprint in six countries in Africa. Today, the bank has 12.3 million customers.
Chairman Designate
Mr. David Ansell, a Kenyan-American, who has been named the Chairman Designate has been serving as the Non-Executive Vice-Chairman. He has served in various assignments at Citibank in the Emerging Markets, including 16 years in Africa. He has served as President of Citibank Russia and later as Managing Director and the first CEO of Ecobank Transnational Inc, located in Lome, Togo.
He was first appointed as a Director of Equity Bank in 2012 and has been the Non-Executive Vice-Chairman of Equity Group.
