Stanbic Bank Uganda Limited (USE:SBU) Board of Directors announced on 6 January 2015 Patrick Mweheire as the bank's new Chief Executive & Managing Director. Mweheire previously held the position of Executive Director and Head of the Bank's Corporate and Investment Banking (CIB) Division.
"During this time of innovation and transformation, the Board is confident that Patrick Mweheire is the best person to lead Stanbic Bank said Japheth Katto, Stanbic Bank Uganda's Board Chairman. "Patrick is a proven leader with hard-core banking skills, strategic vision and the ability to bring people together. During the last three years with Stanbic, he has established strong relationships with the bank's key stakeholders. Patrick brings over 18 years of global banking experience spanning three continents to his new role which will be instrumental as Stanbic Bank enters its next chapter of expanded growth."
Since joining Stanbic in 2012, Mweheire has grown the CIB business from UGX 95 billion revenue and doubled it to greater than a UGX 190 billion revenue business today. During his tenure overseeing the CIB business, the division diversified its revenue streams, outperformed the market and won several investment banking accolades. Mweheire joined Stanbic in 2012 with 15 years of Investment Banking experience, 9 years of which were spent at Merrill Lynch & Co, New York, where he worked as Director, Investment Banking and executed numerous M&A and financing transactions. Just prior to joining Stanbic Bank, Mweheire worked as Head of Investment Banking Africa for Renaissance Capital based in London and Nairobi. Patrick holds an MBA from Harvard University's Graduate School of Business.
"I've had the unique opportunity to spend the past few months actively engaging with Stanbic's Board, management team and front-line employees," said Mweheire shortly after his appointment. "I am honoured to have the opportunity to lead the Stanbic team as we mobilize to become the undisputed bank of choice in Uganda. In the short-term, we will focus on becoming customer service centric, extremely cost efficient and competing aggressively in the marketplace."
Having worked with him for almost three years, I know that Patrick is the right leader at the right time for Stanbic" said Philip Odera, the outgoing CE. "I have had the distinct privilege of working with the most talented senior leadership team in the banking industry in Uganda. I inherited a bank with a Profit After Tax of UGX 38 billion and it now stands at well over UGX 100 billion thanks to the dedication and commitment of this amazing team and I know their passion to win will grow stronger under Patrick's leadership."
"While congratulating Patrick on his new appointment, on behalf of the Board, I would like to thank Philip Odera for his outstanding leadership. He has guided Stanbic through a challenging period and has built a solid foundation for the bank's continued growth." In making our selection, the Board took the thoughtful approach that our shareholders, customers, employees and partners expected and deserved," Katto added.
Standard Bank Group facilitation of Woolworths' ground-breaking acquisition wins Deal of the Year ....
Standard Bank Arranges USD 1.25 Billion Eskom Bond Sale to International Investors