CITIBANK PICKS ANOTHER KENYAN CEO FOR ITS ZAMBIAN BUSINESS

Martin Mugambi

Citibank has appointed a Kenyan, Martin Mugambi, to head its Zambian business, taking over from yet another Kenyan who held the position until last year.

Ms Joyce-Ann Wainaina, the previous Zambia CEO, was appointed the regional CEO of Citibank East Africa based in Nairobi in July last year.

Mr Mugambi previously worked as the managing director and head of corporate finance in Citi’s sub-Saharan Africa (SSA) Corporate and Investment Banking (CIB) business based out of Johannesburg.

His position as the head of corporate finance saw him engage clients in international and domestic corporate-finance products in 35 countries where Citi has presence.

“Zambia is a country with enormous potential and I am looking forward to continuing the strong and trusted partnership that Citi has had in Zambia with our regulators, customers, employees and other stakeholders. I am privileged to be inheriting a strong business with good leadership and a first class team,” said Mr Mugambi.

Fidelis Banda, the chairman of Citibank Zambia, said Mr Mugambi’s “wealth of experience and banking-industry knowledge has made him a key addition to the Citi family in Zambia,”

“We view this appointment as a sign of Citi’s long standing commitment to Zambia as we strive to become the leading financial-services provider in the country.”

Before joining Citibank, Mr Mugambi worked with Chase Manhattan Bank now known as JPMorgan Chase in the Investment Banking Associate Programme in New York in 1998.

For three years he focused on advisory and structured finance roles balancing between London and South Africa offices of Chase Manhattan Bank.

He holds a Master in Business Administration (MBA) in Finance and a Bachelor of Science (BSc) in Business Administration from Duquesne University in Pittsburgh, US.

Other Kenyans holding top positions in firms across Africa include Ory Okolloh serving as the director of investments at Omidyar Network, James Wainaina, the Mastercard East Africa vice president and Gerald Mahinda, managing director of American foods manufacturer Kellogg’s.

Business Daily