NAIROBI, Kenya – I&M Bank Kenya has announced the appointment of a new chief executive officer (CEO).
The Board of I&M Group PLC appointed Abdi Mohamed as the Chief Executive Officer of I&M Bank Limited.
According to a public notice released on Monday, June 29, Mohamed’s appointment remains subject to the approval of the Central Bank of Kenya.
New I&M Bank CEO profile
The notice stated that Mohamed will join 1&M Bank from Absa Bank Kenya PLC, where he served as Chief Executive Officer and Managing Director.
Mohamed brings over 30 years of leadership experience in banking and financial services across retail and corporate banking, operations, risk management, digital transformation and strategic leadership across multiple geographies within Africa.
“The Board is confident that Mr Mohamed’s extensive experience, strategic leadership and deep understanding of the financial services sector will guide the Bank as it embarks on its next phase of growth and transformation,” read the notice in part.
The board said that Kihara Maina, the interim CEO, will continue serving in his capacity until the transition period and regulatory approval process is concluded.
I&M Group PLC, formerly known as City Trust Limited (CTL), was incorporated on August 16, 1950.
The Nairobi Securities Exchange (NSE)-listed company was licensed and approved as a non-operating holding limited in accordance with the provisions of the Banking Act, Cap 488, Laws of Kenya, following a reverse takeover of CTL by I&M Bank Limited in June 2013.
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