ABC appoints acting CEO
Isaac Pinielo | Friday January 16, 2015 12:56
The appointment comes after the departure of former chief executive officer Douglas Munatsi, who left in December last year. In an announcement yesterday, the group’s board of directors said Dr Mudavanhu had been with ABCH for nearly six years, serving as group chief risk officer. He worked in financial services in New York for several years. Prior to joining ABCH, he was a director in Global Risk Management at Bank America Merrill Lynch.
“He has been a member of the ABCH executive committee for several years and has led or participated in discussions and decisions related to all aspects of the group’s operations. Dr Mudavanhu has a doctorate in Mathematics from the University of Washington and a Masters in Financial Engineering from the University of California at Berkeley,” the group disclosed.
Towards the end of last year, ABCH announced a management shakeup that saw its long-time executives, who include CEO Munatsi, group chief financial officer Beki Moyo and group chief operating officer Francis Dzanya, stepping down from their roles. The development came after the acquisition of BancABC by Atlas Mara. Earlier on, it was indicated that Atlas Mara, in consultation with the board of directors of BancABC, had identified a highly qualified team led by Simbarashe Ronald Pfende, who joined BancABC from the Standard Bank group, where he was most recently head of finance transformation.