KCB Appoints Paul Russo to Replace Long-Serving CEO Joshua Oigara

Kenya Commercial Bank (KCB) Group has appointed Paul Russo as the new CEO to replace the long-serving boss Joshua Oigara, whose term expires in December 2022.

Russo, who is the managing director of KCB’s subsidiary, National Bank of Kenya (NBK), was named boss on Tuesday. His contract will take effect from May 25, 2022.

According to a statement from KCB Board, Oigara who served since 2013 will leave following the end of his contract but will remain for some time to support the transition.

“The Board acknowledges Oigara’s immense contribution in driving the growth of the Group business over the decade. He has been instrumental in deepening financial inclusion and social impact across East Africa,” said KCB Chairman, Andrew Kairu in a statement.

Russo was previously the Group head of human resources, before he was appointed to run NBK which was acquired by KCB in 2019. He also previously served at Absa and audit firm PwC.

His appointment follows a competitively run selection process that kicked off in March 2022.

Russo brings a wealth of experience in banking, operational management and people management strategy. He has over 20 years of work experience in executive and key roles, including Group HR Director.

“The board congratulates Paul for the appointment and is confident that he will ably steer the Group’s future growth ambitions,” said Kairu.