I&M Group Appoints David Thuo Ngata as Chief Finance Officer, Bids Farewell to Dr. Nyambura Koigi

Read Time:1 Minute, 52 Second

I&M Group has appointed David Thuo Ngata as its new Chief Finance Officer, effective October 16, 2024, as announced in a notice by the Nairobi Securities Exchange-listed lender. The board expressed confidence in Mr. Ngata’s expertise, stating, “The board is pleased to welcome Mr. Ngata to I&M Group and wishes him the very best in this role.”

Mr. Ngata joins I&M Group following his tenure as finance director at Equity Group, where he served since 2018. His departure marks the latest high-level exit at Equity, the country’s second-largest bank, following the early retirement of executive director Mary Wangari Wamae in June.

Ngata takes over a role that had been vacant since the departure of Amit Budhdev in December. Before joining Equity, he built an impressive career with American Express, where he held various roles, most recently as head of internal audit and data analytics. His background also includes positions at consultancy KPMG and several other financial firms.

With over 25 years of experience in the financial sector, Ngata holds a Master’s degree in Business Analytics from Carnegie Mellon University and a Bachelor of Commerce from the University of Nairobi.

Read: I&M Bank Launches Buy Now Pay Later Service

Additionally, I&M Group PLC has officially announced the retirement of Dr. A. Nyambura Koigi from its Board, effective October 28, 2024, following her successful completion of tenure.

Dr. Koigi, who made history as the first female Director on the Board, has been an influential member since 2015 and served as Chairperson of the Board Nomination, Remuneration & Governance Committee.

During her tenure, Dr. Koigi played a crucial role in advancing the company’s risk management framework by championing ownership of risk at the Board level. Her vast experience and strategic insights have been invaluable in shaping I&M Group PLC’s direction and supporting the effective implementation of its long-term goals.

The i&m board extended sincere thanks to Dr. Koigi for her dedication, leadership, and guidance on matters of risk and governance. As she steps down, the Board wished her continued success in future endeavors, acknowledging her lasting impact on the organization’s governance and strategic initiatives.