Business & Financial News

SBM Bank (Kenya) appoints a new CEO

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By Phyllis MUCHOKI

SBM Bank (Kenya) Limited Board has today announced the appointment of Mr. Bhartesh Shah as its new Chief Executive Officer (CEO), effective May 9th, 2024.
Mr. Shah will assume the role of CEO, following the departure of Mr. Moezz Mir who has served in this position for the past six years and now moves on to pursue other interests.
During this transition period, Mr. Mir will be on hand to provide support and ensure a seamless handover.
With more than twenty years of experience in the financial services industry, Mr. Shah possesses a strong background in banking, operational management, people management, strategy, and business acumen.
He has held executive positions at esteemed institutions including I&M Group, Equity Group Holdings, Standard Chartered Bank, Citibank, and Midland Bank (HSBC) in various regions such as Eastern Africa, Singapore, and the United Kingdom.
Mr. Shah holds a Master of Business Administration (MBA) from the University of Warwick- Warwick Business School, and a Bachelor of Science in Banking and Finance from Loughborough University, United Kingdom.
Mr. Sattar Hajee Abdoula, Chairman of the Board of Directors, expressed his confidence in Mr. Shah’s appointment, stating, ” He is a well-suited candidate for the position and will lead the Bank in achieving its growth goals to become the predominant leader in the Kenyan market.
His strategic vision will drive essential business transformation to enhance the impact on economies and communities in our vicinity.”
Under Mr. Shah’s leadership, SBM Bank Kenya is poised to embark on a journey of innovation, collaboration, and customer-centricity. With a focus on delivering shareholder value and exceptional customer experiences, Mr. Shah aims to drive market share growth and lead the bank towards sustainable prosperity.
The Bank expressed its sincere appreciation to Mr. Mir for his contribution to the Bank since he commenced his tenure in 2018. Acknowledged for his successful leadership as the SBM Bank Kenya CEO, Moezz has overseen a period of transformation for the Organization.
Furthermore, Moezz was recognized for establishing a strong foundation for the Bank’s operations across Kenya, marked by significant improvements in financial inclusion, innovative digital banking solutions, and a commitment to sustainable business practices.

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