I think the reality is that this guy was NOT going to be CEO at KCB, and the consultants felt he wasn't doing much at KCB, hence he got downgraded and quit.

He should fit right in at Family...they also don't seem to be doing much as a bank.

I am part of "anyone in SME" and I will not... Family is SLOW, they have wasted my time in the past...

One of my friends who is in business with them is always complaining... you cant even get a simple UnclearedEffect on a GoK cheque? Maybe the new guy will help but right now Family is StoneAge.

Gengis-kwani ulikuwa abroad? On June 2nd , the extra-great MOO put ot this announcement http://www.kcbbankgroup....;id=747&Itemid=264. If you scroll to the bottom, you'll notice that they had done a profile of Peter Munyiri who had been offered CBO-Kenya. Samuel Kimani who you are thinking of, got straight redudancy and he is being lined up us new CEO at NBK.

@Waithaka,

Thanks for this. I had noted this thread is full of inaccurate information from @Genghis Khan and others.

Hope these two links help.

http://www.nation.co.ke/.../-/50uvitz/-/index.html


http://www.businessdaily.../-/50ob4xz/-/index.html

http://www.businessdaily.../-/ub05pfz/-/index.html

In addition, no one was downgraded because the consultants found that they were not up to the task. It is the two deputy CEO positions that were scrapped. And Munyiri had not worked for KCB for 20 years. If you look at the profiles of those two former deputy CEO's they look very able guys who had earned those positions. Of course from their profiles, any bank would take them seriously and I would not be surprised if both take up CEO positions of different banks soon.

Two things many of you are overlooking.
While we all agree bank has not performed to its potential (especially when you put it next to Equity), the main reason has been Kiondo who was CEo for many yrs before being forced oput by CBK’s rules. To be fair to him, he kept the bank going, but having invited an external player who wants to make big chums within the 5 years they’ll hold the shares, he is being forced to backdown and accept to play a lower profile game.
It is not easy to get a CEO job in Kenya’s banking industry because there are 44 jobs and most CEOs seem to stay for 20yrs. It is also industry is now growing at a pace and therefore doesn’t allow for KANU-type of operating where you put in a goat herder as CEO. So you can twiddle your thumb while you wait for your boss to go or for Reuben to vacate from NBK, which is what Peter has had to do for 4 years or grab the first CEO role that comes along.

@gathinga..go call your mboss a devil,or a dog during a staff meeting!!

@Genghis Khan,

From your post, you would want to indicate that someone may not be a good CEO, just because he was in charge of group controls. Kimani who was the deputy CEO in charge of group controls was previously the finance director at KCB, has previously worked for CBK and PricewaterhouseCoopers. He holds a Bachelor Bachelor of Science Degree in Civil Engineering and an MBA Strategic Management both from the University of Nairobi. He is an alumnus of Harvard Business School’s Advanced Management Program. He is a member of the Institute of Certified Public Accountants of Kenya (ICPAK).

Martin, the current CEO of KCB and James Mwangi were previously in Finance before they took CEO positions. Of course people at decision making positions in hiring companies know that the KCB Managers are not out of work because they are non performers. The bank just wanted to reduce the number of management positions.

If guys had cared to follow what was on the news before restructuring, the two deputy CEO's were seen as qualified to take up Martin's role but then again, he was not to leave the position for them before his time was due.

Now if as @Cde said earlier that Munyiri couldn't get a license from CBK, how will he now get it when he goes to Family?

say what?
The announcement is this afternoon. CBK will already have cleared him for them to be making the announcement.
As I said, the Fam Bank that is evolving will be less dominated by Muya Snr

@Gordon Gekko,

Please provide the link that Munyiri Could not get a licence from CBK.

I doubt if CBK would decline if he is clean.

Here is Munyiri's profile

He joined KCB in April 2007. He is a professional Banker and a Corporate Executive with 17 years experience in Banking having worked at Co-operative Banking as the General Manager in charge of Retail Banking and also as General Manager for Technology and Operations Division within Co-operative Bank. Prior to joining Co-operative Bank, Peter worked for Standard Chartered Bank in Trade Finance and at Barclays Bank in Risk Management Division. He is a fellow of the Kenya Institute of Bankers (FKIB) and an Associate of the Chartered Institute of Bankers (UK). He is holder of an MBA from Newport University and a BA Economics degree from the University of Nairobi.