National Bank of Kenya (NBK) CEO Paul Russo has been appointed as the new Kenya Commercial Bank (KCB) Group PLC’s Chief Executive Officer effective May 25, 2022.

He replaces Mr Joshua Oigara who has been the Group CEO for the last nine and a half years. Joshua will be available for a period of time to support a smooth transition.

Russo holds an MBA from Strathmore University Business School and a Bachelor of Business Management from Moi University. He also holds a Senior Executive Program for Africa Certificate from Harvard Business School and a Higher Diploma in Human Resource Management from the Institute of Human Resource Management (Kenya).

“He is the right person for the job and will take the Group to the next level in its growth ambitions to become the undisputed regional leader and drive much-needed business transformation for greater impact of economies and communities around us,” KCB Group Chairman Andrew Wambari Kairu said.

“During his tenure at NBK, he has executed a significant turnaround, moving the previously loss-making business into profitability and on a trajectory for stronger growth into the future,” the Group Chairman added.

Paul Russo was appointed NBK managing director on September 20, 2019, and tasked with the integration of NBK and KCB. Before then, he worked at KCB as the Director of Regional Business and as the Group Human Resource Director.

He has previously worked for Barclays Bank, PriceWaterhouseCoopers (PWC), K-Rep Bank and Unga Limited.

The Board commended Joshua for his service to the Group since joining in 2011.

“He has left a solid legacy for the Group across Africa and beyond that is dotted by the transformation of millions of lives, enhanced financial inclusion across the region, digital banking innovations and has built a Group that is anchored on sustainable business practices,” he added.