GCB Bank outdoors Kofi Adomakoh as new MD

The Board of GCB Bank Limited has announced the appointment of Mr. John Kofi Adomakoh as the new Managing Director (MD) of the Bank effective 9 November 2020.

Mr. Adomakoh replaces Mr. Anselm Ray Sowah, who ended his tenure of office as the MD of GCB Bank in September this year after more than three years in that position.

Prior to his appointment, Kofi Adomakoh was the Director & Global Head, Project and Asset-Based Finance of the African Export-Import Bank headquartered in Cairo. He brings to this role, over 25 years of banking experience within Africa, 15 of which have been at executive management levels.

A statement issued by the bank announcing the appointment said Kofi has held many leadership roles including Executive Director, Corporate & Institutional Banking at Barclays Bank Ghana Limited (now ABSA Bank Ghana Limited) and Head of Institutional Banking Group at Ecobank Ghana Limited.

“Kofi holds an Executive Master’s Degree in Business Administration and a Bachelor of Science in Agriculture, majoring in Economics from the University of Ghana, Legon. He had his Ordinary and Advanced Levels education at the St. Augustine’s College, Cape Coast.

“The Board views this appointment as a major milestone in the Bank’s transformation agenda to become a world-class bank with proactiveness in solving client needs. The Board firmly believes also that, Kofi’s extensive international leadership experience, expertise in global financial markets, combined with his deep understanding of the Ghanaian market will be invaluable to the success of the Bank’s transformation journey and further strengthen it’s position in growing market share, revenue and profits.

Reflecting on his appointment, Kofi Adomakoh said: “I am greatly honoured and excited to be joining GCB Bank at this time to contribute to the transformation agenda and lead the bank to dominate the market. GCB Bank has a large clientele and strong balance sheet which uniquely positions it as a strong and formidable Ghanaian bank providing support to businesses and individuals. As industry evolves through technological innovation and advancement, I believe GCB Bank is in a pole position to provide cost effective and world class digital banking solutions. I am passionately committed to placing our clients at the centre of everything we do and look forward to working closely with the Board, senior leadership team, and all employees of the Bank.”

“Kofi is an inspiring and energetic leader, and he is widely known for his collaborative leadership style and for building high performance teams. I have no doubt that Kofi’s extensive financial services experience and international exposure will help GCB Bank deliver improvement in shareholder value as well as strengthen and develop key partnerships and strategic alliances,” said Jude Arthur; Chairman of the Board of Directors, GCB Bank.

The Board congratulated Kofi Adomakoh on his appointment and expressed gratitude to all stakeholders for their continued support, saying “We are confident that he has what it takes to steer the Bank to the next level.”