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Equity Bank CEO resigns from Britam

21 May 2015, 12:40 Joseph Njung'eh

Nairobi - Britam Company has announced resignation of Dr. James Mwangi from its Board of Directors.

Following the voluntary resignation, Mwangi has been replaced by Walter Andrew Hollas, a former Senior Partner and Chief Executive Officer at PricewaterhouseCoopers.

Mwangi is also the Chief Executive officer and Managing Director at Equity Group Holdings.

Confirming the board changes, Britam Group Managing Director, Benson Wairegi said that Mwangi still retains his shareholding stake in the company.

In a press statement released Wednesday, Wairegi paid a glowing tribute to Dr. Mwangi who previously sat in four crucial Britam Board Sub Committees, including the Investments and Strategy sub-Committee.

Read Also: Tiger Brands' Kenyan business hit by fraud allegations

“This is purely a voluntary move, agreed mutually with Britam board of Directors’ to help us further minimize conflict of interest risks, as Britam has recently enhanced its shareholding in banking services provider,” Wairegi said.

A seasoned financial management expert, Hollas is a former PwC Senior Partner who was responsible for PricewaterhouseCoopers East, Central and West Africa operations.

He is a Fellow of the Institute of Chartered Accountants in England and Wales, a member of the UK Institute of Directors, and a member of the Institute of Certified Public Accountants of Kenya.

The leadership of Britam recently approved a raft of strategic initiatives for the firm meant to guide its growth agenda for the next five years.

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