Ghana: UMB appoints Sakyi-Hyde as acting CEO

The Universal Merchant Bank (UMB) Board has appointed Samuel Sakyi-Hyde as the interim CEO of the bank. He will be responsible for advancing the bank’s growth strategy while ensuring a smooth executive succession process in compliance with regulatory and statutory requirements.

Samuel Sakyi-Hyde is a prominent Ghanaian banker with nearly 30 years of industry expertise. His impressive career features a notable role as the Chief Executive Officer at UniCredit Ghana Limited.

Since 2019, Samuel Sakyi-Hyde has held the position of General Manager, Consumer Banking at UMB. During this time, he has received recognition and praise for his remarkable achievement of returning the Consumer Banking Division of the bank to profitability, marking the first time in a decade.

Speaking on the appointment, Board Chairman at UMB, George Smith Graham said “Sakyi-Hyde comes to the role as part of the succession protocol being deployed, as Nana Dwemoh Benneh proceeds to retire from the Bank. It is a testament to the robust governance framework we have in place, and it is anticipated that the growth strategy and trajectory we have in place will continue seamlessly.”

Samuel Sakyi-Hyde in his comments said “I am humbled by the appointment and look forward to contributing to the Bank’s 50-year heritage of positive impact in this market. Our brand is strong and the fundamentals of our business are healthy.  #UMBUnited will continue to vigorously pursue our growth strategy of achieving dominance in SME and prioritize a digital-led offering. Overall, I am glad to lead a team that has been committed to delivering a uniquely Ghanaian perspective to world-class banking, since 1972.”

UMB, a prominent indigenous bank with a rich history dating back to 1972, is known for its distinctive Ghanaian approach to banking. The bank, headquartered in Accra and authorized by the Bank of Ghana, maintains a network of 35 branches across the country. UMB’s strategic vision revolves around becoming a leader in digital banking with a strong focus on SMEs. They’ve been at the forefront of innovation in the market, introducing groundbreaking solutions like the UMB SPEEDAPP, which is widely recognized as one of the top-performing banking apps in the sub-region.