Universal Merchant Bank (UMB) has named John Awuah as its new Chief Executive Officer, to replace Nilla Selormey.
Madam Selormey according to the bank has been reassigned to take charge of UMB’s international expansion.
John Awuah is joining UMB from GCB Bank, where he was the Finance Director/Chief Finance Officer.
Nilla Selomey became the Managing Director/CEO of UMB and led the bank’s rebranding from Merchant Bank.
The bank had gone through a torrid time, burdened with massive debts and the majority shareholder SSNIT, sold its shares in the bank to Fortiz.
UMB has subsequently renewed its focus and has revamped its credit policy to curtail historical bad loans, commissioned a Process Review Committee to review the existing processes and took on new hires to drive its new vision.
John Awuah
He is a pioneer member of the Standard Chartered Bank International Accounting Standards project implementation team for Africa which handled the initial conversion of Financial Reporting across Africa from local accounting principles to International Financial Reporting Standards in 2004.
As the Head of Finance of United Bank for Africa Ghana Ltd (UBA), Mr. John Awuah spearheaded the setting-up and operations of the finance function of the bank and led the bank’s branch rollout strategy.
As Financial Controller of Barclays Bank of Ghana, John played a key role in the successful corporate turnaround of the bank; migrating it from a loss making entity in 2008 to the number one bank (in terms of profitability) in 2011.
He was the leader of the Finance Functions of Ecobank Capital in six African Countries where he spearheaded relationship with Regulators and Corporate Strategy in the Investment Banking arm of the Ecobank Group.
Mr. Awuah comes to UMB from GCB Bank Limited where he operated as the Finance Director/Chief Finance Officer playing a key role in the ongoing institutional transformation and cultural change program.
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By: Nana Boakye-Yiadom/citifmonline.com/Ghana
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