Ghana: Paul King Aryene replaces Charles William Zwennes as Republic Bank’s new board chair

Republic Bank (Ghana) PLC has announced the appointment of an Acting Board Chairman following the expiry of the term of Mr. Charles William Zwennes, Chairman of the Republic Bank (Ghana) PLC Board at the end of April 2023.

The Board, at its meeting held on 2nd June 2023, appointed Mr. Paul King Aryene as the Acting Chairman of the Republic Bank (Ghana) PLC Board and Chairman of the Bank’s Annual General Meeting for the year ended 31st December 2022.

Mr. Zwennes was appointed to the Board of Republic Bank (then HFC Bank) in April 2015 as a representative of Republic Financial Holdings Limited (RFHL). He was subsequently appointed as the Chairman of the Board of Directors in April 2017.

Mr. Zwennes took over the chairmanship at a critical time in the Bank’s history and played a pivotal role in the rebranding exercise from HFC Bank to Republic Bank. He has served with distinction in shaping Republic Bank (Ghana) PLC’s strategic direction, driving innovation, and fostering a culture of excellence. Under his guidance, Republic Bank has achieved significant milestones, strengthening its position in the banking sector.

As Mr. Zwennes ends his term, the Board of Directors expressed their deepest gratitude to Mr. Zwennes for his leadership, invaluable contributions and dedication throughout the years.

Profile of Mr. Paul King Aryene

Mr. Paul King Aryene was appointed to the Republic Bank Board in April 2015. He served as the Ambassador to the Federal Republic of Germany with concurrent accreditation to Estonia, Latvia and Lithuania. He is a Diplomat of high repute and has served in various positions at the Ministry of Foreign Affairs and Overseers missions.

Mr. Aryene holds a degree from the University of Ghana, a Diploma in Diplomacy from the University of Nairobi, and a Diploma in Investment Analysis from the Research Institute of Investment Analysts, Malaysia and a Cyber Security Certificate – Developing a Business Program.

Mr. Aryene is the Chairman of the Remuneration and Nominations and the Cyber and Information Security Committees of the Board and a member of the Audit and Enterprise Risk Committees of the Board.  In addition, he is the Board member responsible for relations with the minority shareholders of the Bank.  Mr. Aryene also serves as Chairman of the Board of HFC Realty Company Limited.

He is well versed in the affairs of the Bank. He brings a wealth of industry experience and a proven record of accomplishment. The Board has complete confidence in Mr. Aryene’s ability to lead Republic Bank (Ghana) PLC during this interim period.

The Board of Directors takes the opportunity to wish Mr. Paul King Aryene a successful acting tenure. They assure the Bank’s investing public and cherished customers that Republic Bank will remain dedicated to its core mission and continue to thrive and build upon its strong foundation.

Republic Bank (Ghana) PLC, a subsidiary of Republic Financial Holdings Limited (RFHL) of Trinidad & Tobago, is Ghana’s leading Universal Banking institution and arguably the most diversified financial institution. As a one-stop financial institution, the Bank’s services include Corporate, Commercial and Retail Banking; Investment Banking; Trustee Services; Mortgage Banking; VISA Credit and Debit Cards and Microfinance.

The bank’s parent company, RFHL, is the largest and most profitable independent Bank in the English-speaking Caribbean, having served the region for over 185 years with a total Asset base of over US$16.5 billion at the end of the 2021 financial year. The Bank focuses on four SDG goals – Good Health and Well-being, Quality Education, Clean Water and Sanitation and Climate Action as part of its Corporate Social Responsibility under its umbrella initiative Power to Make a Difference (PMAD).