Equity taps Wamae to oversee regional subsidiaries

Regional lender Equity Group Holdings is banking on changes to its top executive positions as a growth driver into the future.

The bank has promoted long serving company secretary and head of strategy Mary Wangari Wamae to the newly created post of executive director for subsidiaries.

The long serving company secretary will oversee Equity’s regional subsidiaries in Congo, Tanzania, Rwanda, Uganda and South Sudan.

Equity Group chief executive officer James Mwangi said on Tuesday that the changes would enable the bank to respond to emerging growth opportunities.

“We are reorganizing the structure in line with the group’s growth as reflected in the capital, asset and client base in response to the funding and infrastructure capability as well as to re position ourselves for opportunities that will open up from the anticipated growth locally and in the region,” Mr Mwangi said.

Equity has over the years been strengthening its executive team as it seeks to grow its business and create new revenue lines.

Ms Wamae’s pervious post has been split into two with Christine Akinyi taking up the role of company secretary while Brent Malahay will now serve as the group’s strategy director.

“The group’s organizational structure is evolving to match the transformation of the firm and the complexity of it regional operations,” Mr Mwangi added.

The appointments follow the recent installation of Polycarp Igathe as the group’s chief commercial officer and Julius Kayoboke as the director for customer experience and product management.