Albert Mmegwa, Managing Director and Chief Executive Officer (CEO) of Intercontinental Bank Ghana Limited, is believed to have resigned his position to pursue another career in consultancy service.
Reports suggest he might pursue a career in the financial sector though it is unclear whether he would take up another high profile position elsewhere. In the past, some financial sector leaders have quit their jobs to join other institutions.
They include Joe Tetteh, who left uniBank but is now the MD of Merchant Bank and Obeahon Ohiweri, first MD/CEO of UBA Ghana, who is now an Executive Director of Access Bank Plc.
Mr. Mmegwa�s wife, Tilda Mmegwa is a renowned strategic management and human resource management consultant and the National Director for Profiles West Africa based in Accra. Some market watchers say they will not be surprised if Mr. Mmegwa teams up with his wife. His resignation takes effect from December 12, 2011 after five years of dedicated and committed service in Ghana, a statement from the bank said..
As the first MD/CEO of IBG in 2006, it noted, he spearheaded the acquisition of erstwhile Citi Savings & Loans Company and facilitated the application and approval of a banking license for business operations to commence in October with only five branches at the time.
Under his leadership, IBG has grown its branch network to 28 branches nationwide today with an additional presence of eight agencies in other parts of the country.
It added that Mr. Mmegwa defined the business strategy of the bank and grew its portfolio consistently for five years. Through his leadership, the statement added, IBG broke even within the first full year of its banking operations in Ghana and declared profits soon thereafter.
It would be recalled that IBG commenced operations with only about 150 staff in 2006. In 2010, the bank�s total staff strength stood at over 500. Mr. Mmegwa�s leadership style instilled a sense of purpose and urgency in the staff at all levels. It therefore came as no surprise when the bank was voted as the Fastest Growing Bank in 2008.
Under his leadership, IBG also graduated into the second quartile of banks in Ghana. It is now ranked the 4th Best Company by the Ghana Club 100 2011, and the highest placed financial institution in the GC 100 after merely five years of operations in the country.
With all these achievements under his belt, Mr. Mmegwa, the bank said, leaves behind a strong, stable and bigger bank. Mr. Mmegwa is a Fellow of the Institute of Chartered Accountants of Nigeria and holds a Bachelor Degree from the University of Lagos, where he emerged as the best student in the Mathematics Department in 1982.
He trained at the world-renowned Accountancy Firm of Coopers and Lybrand, presently PwC and has over 20 years of experience in the different sectors of the financial and banking industry. He held management positions in Operations, Credit and Marketing, Treasury, Strategic Planning and Information Technology.
Source: Daily Guide
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