Stanbic MD Denies Panic Reaction In Motswana's Appointment

Monday, August 27, 2007

Stanbic Bank Botswana last Thursday parried media suggestions that the appointment of a Motswana to the position of Deputy Managing Director came in response to parliamentary pressure on commercial banks to come clean on their localisation programmes.

Stanbic's CEO Dennis Kennedy told the Monitor Business that the appointment process of Leina Gabaraane as his deputy began two years ago.

"We saw Leina build Stanbic Investment Management Services (SIMS)," Kennedy said, referring to the bank's asset management division of which Gabaraane is the founding CEO.

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