FAMILY BANK APPOINTS NEW CEO
Rebecca Mbithi who is currently the Secretary and Director, Legal Services at Family Bank has been appointed as the new CEO of Family Bank, replacing David Thuku who resigned in September last year. According to standard media, “She holds a Masters in Business Administration (Strategic Management) from the United States International University and an LL.B degree from the University of Nairobi.She has previously worked at the Kenya Tea Development Agencies and Rift Valley Railways. At Family Bank, she has been instrumental in Strategy and Business Development, Capital and Debt Raising, Risk Management, Compliance and Controls, providing legal services and strengthening the Bank’s Governance structures. If approved by CBK, she will take on a bank which struggling to find its place in a disrupted market from small lenders where she is bound to face challenges of raising funds, hawkish market consolidation and securing earnings under the rate cap law. ”
Family bank chairman Wilfred Kiboro says that, “Rebecca is a highly experienced professional with an extensive background in leadership in various organisations at director level specialising in law, project finance, corporate restructuring, equity/debt raising and governance.” According to daily nation, “Prior to joining the lender, Ms Mbithi worked at the Kenya Tea Development Agency and Rift Valley Railways. Like the former CEO, Ms Mbithi is an insider of the home-grown lender, having until now served as a company secretary and director, legal services, a position she has held with the bank for the last four years. Mr Thuku was at the lender’s helm for nearly three years from April 2016. He replaced Peter Munyiri in June 2016, after the latter’s contract expired.”
Before converting into a fully fledged commercial bank in 2007, family bank started as microfinance in 1984.