Standard Chartered Staff Give Ebby Essoka Rousing Farewell
Accra, 11 November 2008 - Standard Chartered Ghana staff last Monday gave their departing Chief Executive Officer (CEO) for Central and West Africa, Ebenezer N. Essoka (Ebby), a rousing send-off at a specially organized farewell event. Standard Chartered had earlier announced the appointment of Ebby as the new CEO for the Bank’s franchise in South Africa.
Representatives of the staff union, senior staff and management who addressed the gathering commended Ebby for his contribution to the Bank’s growth in Ghana and wished him well in his new assignment. The staff choir sang in his honour as other colleagues danced and praised him.
As CEO, Central and West Africa, Ebby has been responsible for establishing the Bank’s successful business in Côte d’Ivoire and also led its re-entry into Nigeria where Standard Chartered’s business is now thriving. He is currently Board Chairman of SCB Côte d’Ivoire and sat on six other SCB subsidiary Boards including Nigeria and Pakistan.
During his tenure as CEO in Ghana, Ebby’s charismatic leadership and wealth of experience engendered a phenomenal growth of over 100 percent and 152 percent in Profit before Tax (PBT) and Earning per Share (EPS) respectively from 2001 to 2007 for Standard Chartered Bank Ghana Limited.
His efforts have largely inspired the breaking of the glass ceiling on the Ghana Stock Exchange by Standard Chartered Ghana’s share price rising to an unprecedented high of GHS38.00 per share. Presently SCB Ghana’s share price is the highest on the local bourse.
As a result of his firm belief in developing local talent for international markets, Ebby has championed the introduction of International/ Short Term Assignments which have prepared scores of staff from Ghana to take on increasingly more complex and senior roles within the Standard Chartered Group. Currently there are Ghanaians working in Standard Chartered offices in places as far removed from home as Singapore, China, Hong Kong, Sierra Leone, South Africa, Ghana, Nigeria, Gambia, Tanzania, Botswana, United Arab Emirates, United Kingdom and the United States.
Actively engaged in community activities, Ebby is a founding member of the Ghana Business Coalition against HIV/AIDS and has spearheaded other nationwide initiatives including the supply of boreholes for clean water access and sponsorship of education, youth and sports programs. He has been a member of Ghana’s Investors’ Advisory Council, an advisory body on investment in Ghana chaired by the President of the Republic of Ghana and a platform through which he has provided thought leadership on governance, reform and growth agendas. In keeping with his passion for leadership capacity development, Ebby has played an active role as a member of various business associations and also serves on the Africa Regional Advisory Board of the London Business School.
Hemen Shah, the incoming CEO for Ghana and Area General Manager, West Africa, was introduced to the staff at the event. He joined Standard Chartered in 2002 as Group Head of Strategy based in the UK and he took up the role of CEO, Tanzania in 2004. Under his leadership the Bank has received recognition for being the Best Employer in Tanzania on three occasions and during his tenure the Tanzania franchise’s trading profit has more than doubled.
Commenting on his move, Ebby Essoka said: “South Africa is one of the Bank’s growth markets and I am excited about the prospects my move holds. Hemen is a key player in our team across Africa and under his leadership, the franchise in Ghana will continue to build on our impressive performance by creating greater shareholder value and reinforcing the Standard Chartered brand.”
Ebby joined Standard Chartered in 1986 and during his extensive career with the Bank has worked in Consumer Banking, Wholesale Banking and also been responsible for governance. In 1993, he became the first African to be appointed CEO of a Standard Chartered subsidiary after 135 years of the SCB Group’s operations on the African continent. He has since held a number of senior positions within Africa in The Gambia, Uganda, Zimbabwe, Côte d’Ivoire and Ghana. He was appointed as CEO, Ghana and Area General Manager for the Economic and Monetary Community of Francophone West Africa (UEMOA) in 2002 before being promoted to his current role in 2004.
These appointments take effect on 12 November 2008 and are however subject to the necessary regulatory approvals.
For more information, please contact:
Nii Okai NunooArea Head of Corporate Affairs, West Africa
Tel: +233(0)21 669688 Fax: +233 (0) 21 661676
Nii-Okai.Nunoo@standardchartered.com