Former Nairobi deputy governor Polycarp Igathe is now managing director of tier one lender Equity Bank Kenya.
He was named in a process where the banker is separating the management of its subsidiaries from the holding company.
In the new arrangement, James Mwangi is group CEO and MD, tasked with providing overall strategic direction and oversight to the group.
"Polycarp’s strong values and passion have enabled him to quickly fit well in the Equity Group organisational culture," Mwangi said while unveiling the changes on Thursday.
He hailed the incoming MD as having distinguished himself as a results-oriented and committed business leader.
"He is renowned for fostering productive partnerships with external stakeholders and customers, resulting in delivery of outstanding company results"
Mwangi said: "We believe he has the skills, competence, capability, and vision to retain Equity Bank Kenya in its leadership position while taking it to the next level."
Igathe joined the bank five months ago, as the chief operating officer, after a short stint in politics following his election as deputy governor of the Nairobi county government.
Mwangi said the Board has completed the process of separating the operations and management of the Kenya subsidiary from that of the Group.
The NSE listed Equity Bank boasts of over 12.6 million customers spread across the Eastern and Central Africa region.
It is also cross-listed in Uganda Stock Exchange and Rwanda Stock Exchange with subsidiaries in Kenya, Uganda, Tanzania, Rwanda, South Sudan, and DRC.
Equity Bank Kenya holds the lion share of the group’s business and contributes over 80 per cent of the profitability.