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FAMILY BANK STEALS THE SHOW FROM KCB!

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Hunderwear		#11 Posted : Monday, June 20, 2011 10:16:42 AM
Rank: Member Joined: 4/14/2011 Posts: 639		milken wrote: Your first step should be removing the Kiondo's from day to day operations >what do u mean by kiondos,the wanjiku?
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Silk		#12 Posted : Monday, June 20, 2011 10:38:19 AM
Rank: Member Joined: 8/25/2008 Posts: 144		Kiondo = Muya
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mwanahisa		#13 Posted : Monday, June 20, 2011 11:02:41 AM
Rank: Elder Joined: 6/2/2008 Posts: 1,438		Genghis Khan wrote: they chose to shop CHEAP for a DCEO who has been FIRED by another bank and make him CEO... And that's the truth...Most likely the Ex KCB DCEO will be earning more than Kinyanjui used to. The only positive is that this Munyiri guy has a bigger profile than Kinyanjui but I would not be too excited ... not yet anyway.
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KulaRaha		#14 Posted : Monday, June 20, 2011 11:12:15 AM
Rank: Elder Joined: 7/26/2007 Posts: 6,514		Wa_ithaka wrote: Great move Really? You've worked with Munyiri and think his style of management is great?? Business opportunities are like buses,there's always another one coming
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Genghis Khan		#15 Posted : Monday, June 20, 2011 11:15:06 AM
Rank: Member Joined: 8/5/2010 Posts: 335 Location: Nairobi		mwanahisa wrote: Genghis Khan wrote: they chose to shop CHEAP for a DCEO who has been FIRED by another bank and make him CEO... And that's the truth...Most likely the Ex KCB DCEO will be earning more than Kinyanjui used to. The only positive is that this Munyiri guy has a bigger profile than Kinyanjui but I would not be too excited ... not yet anyway. I hear he was in KCB for 20plus years!!! Am I right? Just from that, "lacklustre" is my opinion. Silk wrote: The main beneficiary remains this Munyiri guy. The KCB lumpsum and a new job ofcourse at a better rate. I suspect he'll not enjoy it at Family. They say lumpsum is: 1.5NumberOfMonthsInKCBSalary 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 shareholder "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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Hunderwear		#16 Posted : Monday, June 20, 2011 11:26:41 AM
Rank: Member Joined: 4/14/2011 Posts: 639		mwanahisa wrote: Genghis Khan wrote: they chose to shop CHEAP for a DCEO who has been FIRED by another bank and make him CEO... And that's the truth...Most likely the Ex KCB DCEO will be earning more than Kinyanjui used to. The only positive is that this Munyiri guy has a bigger profile than Kinyanjui but I would not be too excited ... not yet anyway. Family bank had been shopn for a CEO before appointing Kinyanjui so Munyiri perfectly fills the gap the bank has been operating with.The main motivator wil be revenge on KCB and not the pay.We wil definitely crunch some of the deals slated for KCB!LOL
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Wa_ithaka		#17 Posted : Monday, June 20, 2011 11:33:31 AM
Rank: Veteran Joined: 1/7/2010 Posts: 1,279 Location: nbi		KulaRaha wrote: Wa_ithaka wrote: Great move Really? You've worked with Munyiri and think his style of management is great?? Can't say I have. What is his problem/s? The Governor of Nyeri - 2017
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Genghis Khan		#18 Posted : Monday, June 20, 2011 11:34:55 AM
Rank: Member Joined: 8/5/2010 Posts: 335 Location: Nairobi		Hunderwear wrote: mwanahisa wrote: Genghis Khan wrote: they chose to shop CHEAP for a DCEO who has been FIRED by another bank and make him CEO... And that's the truth...Most likely the Ex KCB DCEO will be earning more than Kinyanjui used to. The only positive is that this Munyiri guy has a bigger profile than Kinyanjui but I would not be too excited ... not yet anyway. Family bank had been shopn for a CEO before appointing Kinyanjui so Munyiri perfectly fills the gap the bank has been operating with.The main motivator wil be revenge on KCB and not the pay.We wil definitely crunch some of the deals slated for KCB!LOL This guy was DCEO in charge of "Group Controls"... I don't think you should expect him to bring much in the way of "deals"... Unless you want to take some of the other guys as well eg. treasury, corporate banking etc... If you do that please have in mind that you are taking the guys that McKinsey think were doing more "harm than good" within KCB (ie. making big salaries without adding value)... Still it's entirely possible to put them to good use in a new organisation. GoodLuck! "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		#19 Posted : Monday, June 20, 2011 11:41:30 AM
Rank: Veteran Joined: 1/7/2010 Posts: 1,279 Location: nbi		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. The Governor of Nyeri - 2017
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mwanahisa		#20 Posted : Monday, June 20, 2011 11:44:38 AM
Rank: Elder Joined: 6/2/2008 Posts: 1,438		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: 1.5NumberOfMonthsInKCBSalary 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 shareholder
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