BY MARTIN LUTHER OKETCH
The board of directors of Stanbic Bank Uganda has appointed Ms. Anne Juuko as the new chief executive officer replacing Mr. Patrick Mweheire, who has been promoted to the position of regional chief executive, Standard Bank Group.
In a statement issued this afternoon, the board of directors said both Mr. Mweheire and Ms. Juuko will be assuming their new roles on March 1st, 2020.
“Mr. Patrick’s exemplary leadership has steered the growth and success of Stanbic Bank as the largest commercial bank in Uganda and sustained the bank’s leadership position in the market. Patrick has been instrumental in the transformation of the organisation and remains influential in contributing to the growth of the financial sector in Uganda and across the East African Region,” the board of directors said.
With the said change, the board of directors said Ms. Juuko brings on board a wealth of experience in the financial industry with regionally and global expertise in banking for 20 years.
She has been a part of the Standard Bank Group for over eight years having joined as head of Global Markets for Stanbic Bank Uganda and was later appointed head of Corporate and Investment Banking at Standard Bank, Namibia.
Ms. 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.
Ms. Juuko started her banking career in 2001, and worked in various roles before being appointed as Vice President, Head Fixed Income, Currencies and Commodities at Citibank Uganda Limited and was later seconded to Citibank Kenya as Vice President, Customer Sales, and Derivatives Marketing. She later joined Stanbic Bank in 2012.
“Throughout her career, Ms Juuko has exhibited exemplary performance, winning the highly coveted accolades such as the Primary Dealer of the Year award for six consecutive years. She has also demonstrated exceptional leadership and stellar performance that will see her set to achieve Stanbic Bank Uganda’s strategy and vision,” the statement reads in part.
In his new regional position, Mr. Mweheire will be responsible for Standard Bank Group’s growth strategy in East Africa which comprises Kenya, Uganda, Tanzania, South Sudan, and Ethiopia.
During his six years as CEO of Stanbic Bank Uganda, Mweheire’s leadership saw the bank’s profit rise to Shs135 billion in 2014 up from Shs101 billion in 2013. In 2015, the bank made a profit of Shs150 .759 billion, and in 2016 the profit was Shs191 billion. In 2017 the profit rose to Shs200 billion and in 2018 the profit was Shs215 billion.
During his reign, the bank, as of 2018 was commanding a market share of 20 percent.
Mweheire also saw growth in bank’s assets, its loan book, growth in customer deposits, efficiency, and cost under control and credit risks as well as improved connectivity (digitalisation).