Absa Bank Kenya has unveiled a comprehensive restructuring of its top leadership positions, marking a significant step towards embracing digital transformation and enhancing its market presence.
The changes aim to position Absa as a digitally-driven financial institution while expanding its service offerings.
In an internal communication to staff, the institution's Chief Executive Abdi Mohamed explained the motive behind the restructuring.
"In line with our ambition to build a truly digitally powered financial institution that delivers excellent customer experience across all touchpoints, we have created the role of chief operating and digital officer at a managing principal level. This role will be responsible for driving our technology and innovations agenda," Mohamed stated.
To materialize this vision, the bank has introduced the new position of Chief Operating and Digital Officer, with recruitment currently underway.
This individual will be pivotal in advancing the bank's technological capabilities and enhancing its customer service delivery.
Additionally, the Chief Finance Officer, Yusuf Omari, has been entrusted with added responsibilities, which include overseeing the bank's treasury, strategy, transformation, and sustainability functions.
Furthermore, he will lead the commercialization efforts of Absa's recently resumed custodial services and its nascent asset management business.
Moses Muthui, who previously held the position of Chief Strategy Officer and Head of Corporate Investment Banking, is set to take on a new role as the Consumer Banking Director, pending regulatory approval.
In his new capacity, he will oversee the retail banking business, with responsibilities encompassing sales and distribution, product proposition, cards and payments, bancassurance, and asset management. He will also continue to provide leadership to the marketing team.
In a show of recognition for their contributions, Chief Risk Officer Chiera Waithaka has been promoted to the position of Managing Principal, while Elizabeth Wasunna has been elevated to Country Management Committee Director, with a primary focus on spearheading the Business Banking Division.
The restructuring at Absa Bank Kenya reflects a strategic shift towards a more technology-driven and customer-centric approach.
By introducing the Chief Operating and Digital Officer role and expanding responsibilities for other key leaders, the bank aims to position itself as a leading digital financial services provider, offering enhanced customer experiences across all touchpoints.
These changes come half a year after Mohamed's confirmation and highlight Absa's commitment to adapting to the evolving financial landscape and embracing digital transformation in the banking sector.