Ecobank’s Albert Essein to retire after 25 years

Outgoing Group Chief Executive of Ecobank, Albert Essien, says he will be going into advisory services when he exits the pan-African bank later this month.

Ecobank Transnational Incorporated (ETI) on Monday announced that it has settled on the current CEO of CITI Group for Africa Ade Ayeyemi as its new Chief Executive.

He will take over from Mr. Essien.
“After ETI Mr Essien will spend more time with family…and I will take a day at a time”, the outgoing Ecobank CEO said.

On speculations that Ecobank is working to acquire another bank to consolidate its status as the biggest bank in Ghana, the experienced banker has ruled out such a possibility.

He said Ecobank now wants to focus on efficiency.
“[Ecobank] Ghana is efficient but it can get more efficient, though we need to drive those efficiencies out and by so doing give back to our customers by way of cheaper banking charges”, he said.

He said Ecobank will still remain despite its focus on efficiency.

“We will be innovative, we will come out with products and services that will keep our customers interested in us; that will make us relevant and that will also contribute to financial intermediation and economic development”, he said.

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