Business News of 2014-03-21

Keli Gadzekpo leaves Data Bank; joins Enterprise Group

Group Chief Executive Officer (CEO) and Co-founder of Data Bank, Mr. Keli Gadzekpo, has resigned from the bank with effect from June to take over his new job as CEO of Enterprise Group.
The announcement was made in Accra on Thursday, March 20, 2014, at a press conference organized by the bank to inform customers and shareholders .
He would be replaced by Mr. Kodwo Addae-Mensah who was the Chief Operating Officer (COO) of the Ghana Commercial Bank.
Mr. Gadzekpo played pioneering role alongside Dr. Ken Ofori-Attah during the establishment of the bank but management is highly optimistic Mr. Kodwo Addae-Mensah is capable of filling his shoes with prudent expertise.
Keli co-founded of Databank with Dr. Ken Ofori-Attah in April 1990 to provide corporate and public finance advisory services to companies in Ghana.
Databank became influential in the development of the capital markets in Ghana, acting as advisor, placement agent and broker to private clients, government and corporations alike. Databank Brokerage Ltd has over the past ten years maintained a dominant market share of stock market activities on the Ghana Stock Exchange.
Commenting on the appointment, Keli said, “In Kojo Addae-Mensah, we have found all of the characteristics that we identified in our CEO succession planning to ensure Databank has the right leadership as it moves into a new phase; he has the values, vision, energy and the intellect to maintain our number one position as the leading asset management firm in Ghana. His deep sector experience will help steer Databank through Ghana’s dynamic and increasingly competitive financial services market”.
On his part, Mr. Kojo Addae-Mensah said, “Databank is a proud Ghanaian multi-national that has innovated in financial services since it was launched in 1990. My first job was at Databank as a graduate in 1998 some 16 years ago; The Databank brand is iconic, Ghanaian, entrepreneurial, has a can-do spirit, is respected for its values, is tested, trusted and robust and I am really humbled to be asked to lead this firm. We are witnessing a rapid evolution of financial services on the Continent, which makes it an exciting and testing time to be setting a strategy to consolidate our dominance in our asset management business. It is good to be coming back home to join such a great team.”
“Kojo is home-grown Ghanaian leadership talent with an unmatched professional pedigree and more significantly he shares our leadership values. He can operate in a multi-national context but his feet are firmly planted in our culture. Although just 43, he already has invaluable experience of working as Chief Operating Officer at one of the country’s largest banks, with one of the widest retail networks. Kojo represents a belief in the capacity of the new generation of Ghanaians to surpass our legacy and a bold step to reinvigorate the future. We see great potential in terms of what he can do to create immense value for our clients and stakeholders,” Ken Ofori-Atta noted.
Kojo has a broad base of experience in the financial services sector that started at Databank, where his first job was in the corporate finance team. This proved to be the foundation of his banking career before leaving to take up roles at Standard Chartered, Barclays and most recently at GCB. In the last four years, Kojo has also served on the Board of Databank’s Balanced Fund so although an external appointment, he is a member of the extended Databank leadership team. Databank manages over 60% of assets.
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