A finance provider, HF Group has appointed director of credit Mr. Peter Oduori as the new managing director for its banking subsidiary HFC, replacing Mr. Samuel Waweru who retired in April 2019.
The board had appointed Ms. Regina Anyika to occupy the post in an acting capacity.
Mr. Kaushik Manek, HF Group board chairman said “The Board of Directors wishes to extend its gratitude to the acting managing director Ms. Regina Anyika who held the role in an interim capacity, and now continues in her role as director legal and company secretary of the HF Group Plc.”
Mr. Oduori joins at a time the company tends to shift its strategy from a mortgage lender to fully-fledged bank with focus on retail and digital lending.
The bank is also reducing its concentration in the property investment business after it was hit by slowdown in the market.
HF Group is also hunting for a strategic investors after its majority shareholder, Britam said it planned to sell part of its 48.2 percent stake in the group.
The tier II lender is ranked 18 in the market with one percent market share and Sh54.48 billion assets in the period ended December 31, with 21 branches across the country.
Mr. Oduori has 20 years’ experience in leadership, credit risk management and operations.
The bank lauded him for playing part in formulation and implementation of business strategies, which have made significant turnaround to the organizations he has worked for.
He has previously held various senior roles in Stanbic Bank Kenya, Stanbic Bank Tanzania and Standard Bank Group. He holds a Master of Science in Finance (banking option) and a Bachelor of Commerce degree (finance option) both from the University of Nairobi.