The Bank of Ghana announced that it has consolidated 5 domestic banks into what it calls the Consolidated Bank Ghana Limited.
The five banks are uniBank, Royal Bank, Sovereign Bank, Beige Bank and the Construction Bank.
The Governor, Dr Ernest Addison explained that they consolidated the banks because some of them were licensed through false means by fake presenting documents which showed they could meet the new capital requirement.
Others also had liquidity challenges and were also not in good standing to meet the BoG’s recapitalized amount of Ghc400 million.
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Here the Chief Executive Officers and Managing Directors of the 5 banks that have been ‘merged’ by the Bank of Ghana.
uniBank – Dr. Kwabena Duffour II (CEO)
Duffuor II replaced Felix Nyarko-Pong as the Chief Executive Officer (CEO) of uniBank on June 1, 2017.
Until that elevation, he served as the Chief Operating Officer (COO) of the bank – a position he had held since June 2013.
The son of the former Bank of Ghana Governor holds a Ph.D. in Finance, an MSc Banking and International Finance from Cass Business School, City of London, UK, and a degree in Economics and Mathematics from the University of Southampton.
He has over 9 years of banking experience both locally and internationally. He worked with Ghana International Bank Plc, uniBank (Ghana) Limited and Standard Chartered Bank in various departments including, Retail Banking, Treasury Operations, and Credit Risk Management.
Beige Bank – Mike Nyinaku (CEO)
Mike Nyinaku found the BEIGE Group (TBG) in 2008 after he worked for 10 years as an accountant.
The professional accountant prefers to be referred to as a student of entrepreneurship.
He also set up the BEIGE Foundation to promote youth and social development through some sponsored programs implemented across Ghana.
Before he started BEIGE, he was Chief Finance Officer of OICI-GH, a US-based NGO.
The Royal Bank – Osei Asafo-Adjei (Managing Director/CEO)
Mr Asafo-Adjei started his banking career as a credit officer of the Agricultural Development Bank (adb) in 1993.
He worked with the Trust Bank as General Manager, Business Development, Head of Corporate Banking and Head of Corporate and Commercial Banking from 2004 to 2012.
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Until June 2016, he was the executive director of the Corporate Banking Division of HFC Bank Ltd.
He holds a Master of Philosophy degree in Agricultural Economics from the University of Glasgow, England and a Bachelor of Science in Agricultural Economics from the Kwame Nkrumah University of Science and Technology.
The Construction Bank – Stephen Kpordzih (CEO)
Stephen Kpordzih has over 30 years industry experience in credit risk, corporate finance, treasury and debt structuring.
He worked as the CEO of Agricultural Development Bank (adb) before his appointment as head of the Construction Bank. He also worked as the Head of Wholesale Banking of Stanbic Bank.
He has also worked with the Ghana Commercial Bank. At Barclays Bank Ghana, he is said to have been appointed as the then youngest Business Development Manager, after he was trained at the Barclays Bank Plc (UK).
Mr. Kpordzih is a chartered banker, a fellow of the Chartered Institute of Bankers, Ghana, and an associate of the Chartered Institute of Bankers, United Kingdom.
Sovereign Bank – Johan Rheeder (Managing Director/ CEO)
John Rheeder has three decades of experience in banking.
Prior to his appointment at the Sovereign Bank, he was the CEO of Charter One Bank, Juba, South Sudan. He joined that institution from the Barclays African Group in Johannesburg where he was the head of Branchless Banking Delivery.
He holds a Master of Business Administration from Business School Netherlands, where he was awarded the Francois Mangiagalli floating trophy.