Stanbic Board appoints Kwamina Asomaning as Chief Executive as Alhassan Andani retires

After 14 years of steering the affairs of Stanbic Bank Ghana Limited, Chief Executive (CE) Alhassan Andani will retire on November 30, 2020.

The Board of Directors, with the approval of the Central Bank, has selected Kwamina Asomaning, currently the Executive Director of Corporate and Investment Banking, as the new Chief Executive. Kwamina Asomaning,

Kwamina Asomaning, who has been a key member of Andani’s team for the past 10 years, will begin his term of office on December 1, 2020.

In a statement issued by the bank, Alhassan Andani said: “I am very happy to have worked with an amazing team for close to a decade and half to achieve many of our targets. We overhauled our bank and rose to the very top of the industry. We are a family that looked after one another to achieve greatness thereby placing Stanbic at the pinnacle of excellence in banking. Our clients believe in what we do and have helped to spread our footprint across the country by embracing our products and services.”

“The size of our operation and the staff strength grew in leaps and bounds during these 14 years from a two-branch operation with 150 staff to 40 branches with over 1600 staff. It could only have happened with a team of committed and dedicated colleagues. And I thank them for such support.”

The story of Stanbic Bank over the past decade and a half; from a minor player to a tier-one bank, is an example of the bank’s mantra of ‘IT CAN BE’.

Working with his team, Mr. Andani led the bank to win virtually all the highly coveted industry awards.

These include the Ghana Club 100 number one company ranking, the Chartered Institute of Marketing-Ghana Bank of the Year, Marketing Oriented Company of the Year, Products of the Year and many Africa Banker and EMEA Finance magazine awards.

He further noted that, “As with all races, it is now time to hand over the torch to my successor who will see Stanbic Bank into the next level of banking excellence. I have worked with Kwamina for a decade and I am happy to have him push Stanbic to the next stage. His ability and work ethic will stand him in good stead as an excellent Chief Executive.”

Professor Ernest Aryeetey, Chairman of the Board of Directors said: “The Board is grateful to Andani for his contributions to the bank’s growth. He is leaving at a time when Stanbic is well positioned to contribute to the nation’s economic development. Andani led the bank with dedication and integrity to transform Stanbic into its current enviable position as a market leader that grows its people.”

“The Board believes Kwamina is the right candidate to carry the mantle of Andani to the next level. He has extensive exposure across the business, and we are of the firm conviction that he will serve this bank very well,” he added.

Kwamina Asomaning also said: “I am humbled and honoured to be selected by the Board of the Bank as the next CEO. I have spent the past 10 years working closely with Alhassan Andani, and I thank him for his visionary leadership, which has positively transformed the bank. In this next chapter, I commit to advancing the Bank’s focus on delighting its clients, contributing to national development, and giving back to society. I look forward to working collaboratively with all our stakeholders to deliver Stanbic’s purpose, which is to drive the growth of Ghana, our home.”

Since joining the bank in 2010, Kwamina has been providing strategic and day-to-day management oversight for the bank’s Corporate Banking, Global Markets, Transactional Banking and Investment Banking business units.

His remit includes client origination and strategy, asset allocation, and short and long-term funding.

Kwamina is a board member of Stanbic Bank Ghana Limited, Stanbic Investment Management Services Limited and Chirano Gold Mines Limited.

He holds an MBA in Finance from The Wharton School, University of Pennsylvania and a BSc in Business Administration from the University of Ghana Business School.

He is a Chartered Certified Accountant (ACCA).

Previously, he served as Vice President, Leveraged Finance at Goldman Sachs between 2006 and 2009, and Associate, High-Yield Credit Research at JPMorgan Chase in the period 2004 – 2006.