Renowned Banker Albert Essien, has been appointed as Board Chairman of the Ghana Amalgamated Trust (GAT).
In a statement issued by the Finance Ministry, the former MD of Ecobank will work with Eric Nana Otoo as Managing Director of the company.
The Ghana Amalgamated Trust (GAT) was set up by the government to support solvent and well governed indigenous banks with a 2 billion cedis support.
The Agricultural Development Bank (ADB), National Investment Bank (NIB), (OmniBank / BSIC), Universal Merchant Bank (UMB) and Prudential Bank are the beneficiaries of the fund.
According to the Bank of Ghana, these five banks solvent banks were unable to meet the BoG’s minimum capital requirement of GH¢400 million.
The Ghana Amalgamated Trust has committed funds from private pension funds. The support means that the GAT could have some managerial roles in the beneficiary banks.
The other Board members are Susan Ohene, Sampson Akligoh and Abenaa Kessewaa Brown.
The new Board Chair, Albert Essien is a banker with over 30 years’ experience.
He started his banking career at the National Investment Bank (NIB) in 1986 where he served in various roles including Corporate Banking and Risk Management.
Mr. Essien also worked as the as Deputy Chief Executive Officer of the company from January 1, 2012 to March 12, 2014 and later became the Group Chief Executive of Ecobank Transnational incorporated.
–
By: Nana Oye Ankrah/citibusinessnews.com/Ghana