CalBank has announced the appointment of Philip Owiredu as its Chief Executive Officer taking over from Frank Adu Jnr, who retired from the position after nearly three decades in the banking industry.
A statement released by the bank on the appointment highlighted that, specifically, Mr. Owiredu’s wide experience in the banking sector has earned him a reputation for his dedication to focused strategy execution, excellent people engagement and strong team leadership.
Philip joined CalBank in 2004 as Financial Controller. Prior to joining the Bank, he was a Senior Manager at KPMG Ghana, a leading firm of chartered accountants, management consultants and tax advisers.
He is a fellow member of the Association of Chartered Certified Accountants (FCCA).
Commenting on his new role, Philip stated his delight at the confidence vested in him by the Board of Directors with the position.
As a leading indigenous Bank with a long track record of solid financial performance, he added that, he looks forward to working with the Board, the management team and exceptional staff to spearhead the Bank through another decade of growth and deliver real value to all stakeholders in the coming years.
Commenting on the appointment, Paarock VanPercy, Chairman of the bank’s Board said the Board of CalBank is delighted to have appointed Mr. Owiredu as CalBank’s new CEO after a thorough and rigorous selection process from a number of strong internal and external candidates.
“Philip possesses the requisite qualities of demonstrated operational leadership, intimate knowledge of CalBank operations and culture as well as possessing the strategic capability to lead the business into the next decade. He has demonstrated a clear commitment to the Bank’s strategic purpose and corporate responsibility,” he stated.
Four new Non-Executive Directors
CalBank’s shareholders also approved the appointment of four new Non-Executive Directors of the Bank effective 1st January 2020.
All four directors have been approved by Bank of Ghana. The new directors were appointed following the
mandatory retirement of Mr. Malcolmn Pryor and Dr. Kobina Quansah on 31st December 2019.
The four new directors include Joseph Mensah who has thirty-five years expertise leading rapid growth strategies, compliance and establishing robust controls in the Banking Sector.
He directs business-critical projects and instigates change, creates a culture based on performance, efficiency and engagement.
Mr. Mensah was the CEO of the Ghana International Bank PLC (London) for thirteen years. Prior to this, he was the General Manager of Ghana International Bank for four years.
Mr. Mensah worked as the Head of International Banking at the then Trust Bank Ghana and also worked with Agricultural Development Bank, Ghana for fifteen years.
The other non-executive director is Richard Arkutu, a finance professional who worked with the International Finance Corporation (IFC), World Bank Group for fourteen years in Infrastructure Development.
Prior to this, he was the Vice President of Citibank Nigeria, responsible for sub-Saharan Africa Corporate Finance and Investment Banking Department.
The third appointee, Ben Gustave Barth is a seasoned, multidisciplinary finance and consulting executive with eighteen years proven track record in analyzing and assessing risk of investment portfolios and in structuring transactions.
He is currently the Managing Director for Axcero Advisors. Prior to this, he was a senior partner with The Highland Group, Accra, and Lagos.
The last but not least of the four new non-executive directors is Solomon Asamoah, an investment professional with 25 years of experience in both developed and developing markets.
In 2017, Mr. Asamoah was appointed the CEO of the Ghana Infrastructure Investment (GIIF) fund, a sovereign investment vehicle. Solomon was an advisor to the Federal Government of Nigeria on the implementation of their infrastructure program.
He has also served as the Vice President of Infrastructure, Private Sector and Regional Integration at the African Development Bank (AFDB), the Vice President for Private Sector and International Investment at the Development Bank of Southern Africa (DBSA) based in Johannesburg.