CIC Group Plc has appointed Patrick Nyaga as the new Chief Executive Officer (CEO) with effect from June 22, 2020.
Nyaga, who has been a director in the CIC board for the past nine years, takes over from Tom Gitogo, who ended his contract on 9th October, 2019
The new CEO has served for 28 years in Kenya and the region with Barclays Bank (now ABSA), KPMG and lately, was the Group Finance and Strategy Director for Co-operative Bank Group.
In a statement, CIC Group chairman Japheth Magomere said that Nyaga “has key strengths, which include great links and experience with the co-operative movement who are CIC’s core and primary market segment as well as core shareholder base”.
He added that Nyaga is advantaged to replicate the broad globally acclaimed new performance drivers in operational efficiency with huge cost savings, salesforce efficiencies, performance-based reward structures, data analytics and digitisation that he has had opportunity to drive implementation thereof as Head of Finance and Strategy in his previous employment.
“His track record as a champion for strategy, broad experience in operational efficiency and diverse leadership experience will be of great benefit to CIC Insurance Group,” said Magomere.
Nyaga holds an MBA from Strathmore Business School, a Bachelor of Commerce degree in Accounting and is also a Certified Public Accountant (K) and a member of ICPAK.