Former Nairobi County Deputy Governor Polycarp Igathe has been named the Managing Director of Equity Bank Kenya, five months after joining Equity Group Holdings Plc.

This marks the completion of the Group’s strategy of separating the management of its subsidiaries from that of the Holding Company.

Dr James Mwangi will now serve as the Group Chief Executive and Managing Director providing overall strategic direction and oversight to the Group.

“Polycarp’s strong values and passion have enabled him to quickly fit well in the Equity Group organizational culture,” said Mwangi.

“We believe he has the skills, competence, capability and vision to retain Equity Bank Kenya in its leadership position while taking it to the next level.”

Equity Bank Kenya holds the lion share of the Group’s business and contributes over 80pc of the profitability.

Kenya led in the implementation of the Group’s digitization strategy that has seen the bank move over 97pc of its transactions from the banking halls to self-service digital banking tools.

The bank pioneered in rolling out agency banking in the region, setting the pace for the other subsidiaries.