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FAMILY BANK STEALS THE SHOW FROM KCB!
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Genghis Khan
#21 Posted : Monday, June 20, 2011 11:45:13 AM
Rank: Member

Joined: 8/5/2010
Posts: 335
Location: Nairobi
Wa_ithaka wrote:
Peter Munyiri was actually lined up to be the next CEO at KCB, but he quit for this role. That might have something to do with the potential he sees at Family Bank compared to the bank he has worked at for a few yrs.


???

When did he quit? Before or after he was re-structured out?
"I'd rather be lucky than clever... every time!" - ME
"The problem is not what we don't know... it's what we know for sure that just ain't!" - MARK TWAIN
"Space we can recover... time never!" - NAPOLEON BONAPARTE
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KulaRaha
#22 Posted : Monday, June 20, 2011 11:45:31 AM
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Joined: 7/26/2007
Posts: 6,514
Wa_ithaka wrote:
Peter Munyiri was actually lined up to be the next CEO at KCB, but he quit for this role. That might have something to do with the potential he sees at Family Bank compared to the bank he has worked at for a few yrs.


I think the reality is that this guy was NOT going to be CEO at KCB, and the consultants felt he wasn't doing much at KCB, hence he got downgraded and quit.

He should fit right in at Family...they also don't seem to be doing much as a bank.
Business opportunities are like buses,there's always another one coming
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Wa_ithaka
#23 Posted : Monday, June 20, 2011 11:49:46 AM
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Joined: 1/7/2010
Posts: 1,279
Location: nbi
Gengis- he quit after he was given Chief Business Officer for Kenya
The Governor of Nyeri - 2017
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Genghis Khan
#24 Posted : Monday, June 20, 2011 11:51:27 AM
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Joined: 8/5/2010
Posts: 335
Location: Nairobi
Hunderwear wrote:
Cde Monomotapa wrote:
Hunderwear wrote:
Family Bank is warming up to the former Kcb deputy CEO to replace Peter Kinyanjui as the CEO.Now you know we mean busines.An announcement likely later this afternoon

Hahaha LMAO!! Family failed to un-settle even rattle Equity Bank..you think it is KCB they will come against? C'mon man..Family is a wanksta up against KCB & EBL.

>Dont you count us out yet as anyone in SME wil tel you Family is preferf to ur EBL and KCB.Its gonna be a long journey but hey we got the first step great n in the right direction.See you at the top


I am part of "anyone in SME" and I will not... Family is SLOW, they have wasted my time in the past...

One of my friends who is in business with them is always complaining... you cant even get a simple UnclearedEffect on a GoK cheque? Maybe the new guy will help but right now Family is StoneAge.
"I'd rather be lucky than clever... every time!" - ME
"The problem is not what we don't know... it's what we know for sure that just ain't!" - MARK TWAIN
"Space we can recover... time never!" - NAPOLEON BONAPARTE
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Genghis Khan
#25 Posted : Monday, June 20, 2011 11:55:04 AM
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Joined: 8/5/2010
Posts: 335
Location: Nairobi
Wa_ithaka wrote:
Gengis- he quit after he was given Chief Business Officer for Kenya


Weka link:

I know the other DCEO in Charge of Group Business was given CBO-Kenya ... that makes sense to me... he previously managed Business Development/Growth through directors / department heads (including SME, Corporate, Retail) functions and fits the bill.

Your guy was in charge of Group Controls... maybe he would have been offered COO but not business.

Also you had said he was in line to be CEO... which is it, CEO, CBO or both? Which did he turn down?
"I'd rather be lucky than clever... every time!" - ME
"The problem is not what we don't know... it's what we know for sure that just ain't!" - MARK TWAIN
"Space we can recover... time never!" - NAPOLEON BONAPARTE
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Wa_ithaka
#26 Posted : Monday, June 20, 2011 12:03:01 PM
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Joined: 1/7/2010
Posts: 1,279
Location: nbi
Genghis Khan wrote:
Wa_ithaka wrote:
Gengis- he quit after he was given Chief Business Officer for Kenya


Weka link:

I know the other DCEO in Charge of Group Business was given CBO-Kenya ... that makes sense to me... he previously managed Business Development/Growth through directors / department heads (including SME, Corporate, Retail) functions and fits the bill.

Your guy was in charge of Group Controls... maybe he would have been offered COO but not business.

Gengis-kwani ulikuwa abroad? On June 2nd , the extra-great MOO put ot this announcement http://www.kcbbankgroup....;id=747&Itemid=264. If you scroll to the bottom, you'll notice that they had done a profile of Peter Munyiri who had been offered CBO-Kenya. Samuel Kimani who you are thinking of, got straight redudancy and he is being lined up us new CEO at NBK.
The Governor of Nyeri - 2017
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Genghis Khan
#27 Posted : Monday, June 20, 2011 12:19:45 PM
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Joined: 8/5/2010
Posts: 335
Location: Nairobi
Wa_ithaka wrote:
Genghis Khan wrote:
Wa_ithaka wrote:
Gengis- he quit after he was given Chief Business Officer for Kenya


Weka link:

I know the other DCEO in Charge of Group Business was given CBO-Kenya ... that makes sense to me... he previously managed Business Development/Growth through directors / department heads (including SME, Corporate, Retail) functions and fits the bill.

Your guy was in charge of Group Controls... maybe he would have been offered COO but not business.

Gengis-kwani ulikuwa abroad? On June 2nd , the extra-great MOO put ot this announcement http://www.kcbbankgroup....;id=747&Itemid=264. If you scroll to the bottom, you'll notice that they had done a profile of Peter Munyiri who had been offered CBO-Kenya. Samuel Kimani who you are thinking of, got straight redudancy and he is being lined up us new CEO at NBK.


Sawa I'll cocede that one... had him mixed up with Kimani(who you say, to be new CEO of NBK)...

http://www.nation.co.ke/.../-/50uvitz/-/index.html

I guess the fact that he wasn't found Redundant by McKinsey improves my view of him somewhat...

Still, I don't like how Family Bank works right now... maybe thats why he went there... nowhere to go but up.
"I'd rather be lucky than clever... every time!" - ME
"The problem is not what we don't know... it's what we know for sure that just ain't!" - MARK TWAIN
"Space we can recover... time never!" - NAPOLEON BONAPARTE
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  | | Edit by user: Monday, June 20, 2011 12:25 PM | Reason: Not specified
tassia
#28 Posted : Monday, June 20, 2011 12:33:54 PM
Rank: Member

Joined: 4/25/2011
Posts: 368
Location: Nairobi
@Waithaka,

Thanks for this. I had noted this thread is full of inaccurate information from @Genghis Khan and others.

Hope these two links help.

http://www.nation.co.ke/.../-/50uvitz/-/index.html


http://www.businessdaily.../-/50ob4xz/-/index.html

http://www.businessdaily.../-/ub05pfz/-/index.html

In addition, no one was downgraded because the consultants found that they were not up to the task. It is the two deputy CEO positions that were scrapped. And Munyiri had not worked for KCB for 20 years. If you look at the profiles of those two former deputy CEO's they look very able guys who had earned those positions. Of course from their profiles, any bank would take them seriously and I would not be surprised if both take up CEO positions of different banks soon.
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  | | Edit by user: Monday, June 20, 2011 12:42 PM | Reason: Not specified
gathinga
#29 Posted : Monday, June 20, 2011 12:43:45 PM
Rank: Veteran

Joined: 11/30/2006
Posts: 635
mwanahisa wrote:
YES, INDEED YOU ARE WRONG! The payoff is 1.5 months per year worked not for all the months. Still, it is a pretty good deal for Munyiri et al.

Genghis Khan wrote:
They say lumpsum is:

1.5*NumberOfMonthsInKCB*Salary

Assuming conservatively that the DCEO salary after 20years is 2M...

1.5 * 240 * 2,000,000 =

KES 720,000,000 Gross

After GoK promptly takes 30% tax...

KES 500,000,000 take home!!!!!

And then there is PENSION!

Someone please tell me am wrong... I am a KCB shareholderSad


Still very good cash. I also want to be fired!
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Wa_ithaka
#30 Posted : Monday, June 20, 2011 12:50:34 PM
Rank: Veteran

Joined: 1/7/2010
Posts: 1,279
Location: nbi
Two things many of you are overlooking.
While we all agree bank has not performed to its potential (especially when you put it next to Equity), the main reason has been Kiondo who was CEo for many yrs before being forced oput by CBK’s rules. To be fair to him, he kept the bank going, but having invited an external player who wants to make big chums within the 5 years they’ll hold the shares, he is being forced to backdown and accept to play a lower profile game.
It is not easy to get a CEO job in Kenya’s banking industry because there are 44 jobs and most CEOs seem to stay for 20yrs. It is also industry is now growing at a pace and therefore doesn’t allow for KANU-type of operating where you put in a goat herder as CEO. So you can twiddle your thumb while you wait for your boss to go or for Reuben to vacate from NBK, which is what Peter has had to do for 4 years or grab the first CEO role that comes along.
The Governor of Nyeri - 2017
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