I&M Holdings Limited on Wednesday announced appointment of new members to its board of directors for Orient Bank Limited (OBL) .
According to the bank, Mr. Suleiman I. Kiggundu, Jr. joins as an Independent Non-Executive Chairman.
The bank also announced Mr. Bhartesh Shah and Mr. Allan Christopher Michael Low as Non-Executive Directors respectively.
Mr. Suleiman I. Kiggundu, Jr, the in-coming Chairman, will be responsible for leading the Board of Directors in fulfilling the Board’s responsibilities lain out in the board’s charter, Orient Bank’s articles and Memorandum of Association and prevailing regulatory requirements in a manner that promotes profitability, growth, safety, and soundness of the bank.
Commenting on the appointment of new board members, Mr. Kumaran Pather, Managing Director of Orient, said, “We are extremely excited that our new board members are joining OBL’s team. Their vast experience in corporate and commercial business will serve as an excellent resource for both the Board and Management of the Bank. They identify with our commitment to the strategic direction in which the Bank is headed.” Pather said
“The Chairmanship was vacated by Mr. Michael Cook who served on the Board for 15 years as the Chairman. The Bank is extraordinarily grateful to him for his leadership in fulfilling its vision to contribute to the economic and financial development of the country.” Mr Kumaran added.
Speaking on behalf of other board members, Mr. Suleiman I. Kiggundu, Jr. remarked that they were all pleased to join the bank and thanked the outgoing chairman, Mr. Michael Cook.
In his concluding remarks, Mr. Kiggundu, Jr., noted, “I am extremely honored and excited to take on the role of Chairman for this hard-working and results driven organization. With the addition of these highly respected new members of our Board, it presents a great opportunity for us to partner with the other members of the Board, Management and Staff of the Bank to spearhead initiatives, policies and strategies that are guaranteed to move the Bank to its next phase.”
Who are the new board members of OBL?
Suleiman Kiggundu (Independent Non Executive Chairman
Kiggundu graduated as an engineer and economist at Yale University. Over the past 25 years, he has served in senior leadership roles at various leading institutions, including Equator Bank, Equator Capital Partners, HSBC Bank plc and as the Regional Director for Africa at CDC Group plc.
Suleiman also serves as a non-executive director of various companies, including GA Insurance Uganda and Kampala Hospital locally. He also chairs CFS Group (a pan-African, advisory & capital markets-oriented financial services group).
Allan Christopher Low (Non Executive Director)
Allan Christopher Michael Low is the Regional Director at I&M Group Plc. Previously Mr. Low held roles with Letshego Holdings Plc (Group CEO), National Bank of Kuwait (Deputy Head of International Banking), Standard Chartered Plc (various CEO roles in South Africa, East Africa and India and Chief Operating Officer at Korea First Bank Ltd, a subsidiary of the Group) and Goldman Sachs.
Mr. Low is a member of Institute of Chartered Accountants in England & Wales, having graduated from St Peters College, Oxford University.
Bhartesh Shah (Non Executive Director)
Mr. Bhartesh Shah has been serving as Group Chief Operating Officer at I&M Group Plc. He is on the Board of Directors at Equity Bank Congo SA. Mr. Shah was previously employed as a Group Director-Digitisation & Virtualisation by Equity Group Holdings Plc, an Executive Director by Equity Bank (Kenya) Ltd., and a Head-Retail Banking by Standard Chartered Investment Services Ltd. (Kenya).
He received his undergraduate degree from Loughborough University and an MBA from the University of Warwick.