Ugandan banker, Anne Juuko is said to be the most likely next Chief Executive Officer for Stanbic Bank, Uganda’s largest bank- according to information corroborated with several industry sources.
Juuko, reportedly beat Sam Mwogeza the bank’s current CFO and Kevin Wingfield, the Executive Director and Head Personal and Business Banking, to one of the most coveted and well-paying jobs in corporate Uganda.
If she indeed does ascend to the role, she will probably be the youngest Stanbic Uganda CEO, the first female and the second Ugandan to head the Stanbic, since South Africa’s Standard Bank acquired a controlling stake in Uganda Commercial Bank in 2001 and subsequently rebranded the bank to Stanbic Uganda.
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Juuko will be replacing Patrick Mweheire, who also according to sources is heading to Nairobi to take up the Regional Chief Executive, East Africa and replacing, a one Greg Brackenridge who was one of the key players in managing the acquisition of Uganda Commercial Bank by Standard Bank.
The Regional Chief Executive is a Standard Bank Group oversight role, based in Nairobi. Brackenridge, the current holder of the role, is 60 years old and his 5 year contract comes to an end this December 2019. The regional role, involves board directorships for Stanbic Bank Uganda, Tanzania and Kenya as well as Standard Bank, Malawi.
Mr. Brackenridge has been with the Standard/Stanbic Bank group for almost 25 years, having worked in several African countries including Zimbabwe, Nigeria, South Africa and Kenya where he headed the Stanbic unit there; his last assignment before becoming the Regional Chief Executive.
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Mweheire (49) will most likely become the youngest and first black African to take up the role, which reports to group.
The Harvard trained banker, presided over Stanbic Bank’s rosiest 5 years, nearly doubling assets from UGX3.7 trillion in 2015 to UGX6.1 trillion as of June 2019.
The regional role is largely interpreted to mean group’s endorsement of Mweheire’s performance record that has seen the bank become Uganda’s most profitable bank with nearly 30% of industry profitability.
Who is Anne Juuko?
Juuko, holds a Bachelor of Commerce degree from Makerere University in Kampala, Uganda and a master’s degree in Strategic Planning from the Herriot Watt Business School in Edinburgh, Scotland.
Juuko was between April 2009 a VP, Head Fixed Income, Currencies and Commodities at Citibank Uganda Limited, before heading to Citibank Kenya as VP, Customer Sales and Derivatives Marketing, a role she served between June 2010 and June 2012. She then returned to Stanbic Bank to take a Head, Global Markets role till December 2017 when she got appointed, Head, Corporates and Investment Banking at Standard Bank, Namibia; a role she took up in January 2018.
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While as head of Global Markets, Juuko is said to have exhibited all-star performance, winning the highly coveted Primary Dealer of the Year award for 6 consecutive years. Juuko’s breadth of treasury and investment banking knowledge is said to have caught the attention of Mweheire, himself an investment banker, who is said to have had a role in seconding her to the Namibia job.
Juuko’s experience fits well within Stanbic’s business strategy whose non-lending income constitutes more about 45% of total income. CEO East Africa is yet to establish how much Juuko will be compensated, but if Patrick Mweheire’s UGX131,830,596 monthly salary is anything to go by, Juuko’s compensation will be in nine (9) figures.
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