President Nana Addo Dankwa Akufo-Addo has nominated Dr. John Kofi Mensah as the new Managing Director of the ADB Bank to take over from Mr Daniel Asiedu.
Mr Asiedu, a former MD of Zenith Bank Ghana, took over the ADB on March 1, 2016 from Mr Stephen Kpodzi and ensured the ADB’s listing on the Ghana Stock Exchange (GSE) in 2016.
The nomination of Dr. Mensah who led First Capital Plus Bank in the past is subject to approval by the Board of Directors of ADB Bank.
After listing on the stock exchange last year, the State Enterprises Commission (SEC) will no longer appoint the MD as that power now belongs to the board of the bank.
The shareholding structure of the ADB is Government of Ghana: 32.3%, Belstar Capital: 24%, Starmount Development Company Limited: 11%, SIC Financial Services: 10%, Bank of Ghana: 9.5%, EDC Capital 6% and Others: 7.2%
Dr John Kofi Mensah holds a Doctor of Business administration (DBA) Degree from the Swiss Management Centre University, Switzerland.
He also holds an MSc. degree in Banking and Finance from FINAFRICA in Milan, Italy and a BA degree in Economics and Statistics from the University of Ghana, Legon.
He has over 26 years experience in the banking sector with special expertise in Treasury Management, Credit Management, Foreign Operations and nurturing new and distressed banks and financial institutions.
He is credited with the transformation of First Capital Plus into a bank from a savings and loans company.
Prior to joining First Capital, he was the Deputy Managing Director of uniBank Ghana.
Prior to joining uniBank, he worked at International Commercial Bank as the General Manager/Deputy CEO, and supervised the organic growth of the bank.
He has also worked with the erstwhile Bank for Housing and Construction, and the Securities Discount Company Limited.
Source: Graphic Online