Standard Chartered Plc (LSE:STAN) has recently appointed Mr. Sanjay Rughani as the new Chief Executive Officer (CEO) of its Tanzanian division to provide leadership for the bank in the country, develop and execute the overall national strategy and direction, customer and franchise management, and people development.
Mr. Rughani became the first Tanzanian in assuming such position within the bank operations in the country and succeeds Mrs. Liz Lloyd, whom assumed the position in 2013 and has been now appointed as the Group Company Secretary at the headquarters in London.
Mr. Rughani’s appointment comes after his successful role as Head of Finance Operations & Change Management for the African region since June, 2013 which helped the bank to achieve operational excellence with two consecutive years of steady growth despite regional currency depreciations and economic challenges.
Under his leadership, the bank achieved a two-year consecutive growth over the 10% with Africa’s operating income increasing from USD 1,590 million in 2012 to USD 1,751 million in 2013 and USD 1,829 million in 2013 according to the bank’s annual reports.
In addition to his recent achievements, Mr. Rughani has a rich experience within the group starting as Manager, Finance and Business Support when he joined the bank in 1999 and as Regional Finance Manager for Africa in 2001, both positions based in London.
Later the bank appointed him to Tanzania as Executive Director for Finance in 2002 to later be appointed in the same position for Ghana, where he was formed as the Chief Finance Officer (CFO) for West Africa until his appointed as Head of the African region.
Standard Chartered CEO for Kenya and East Africa, Mr. Lamin Manjang, explained that Mr. Rughani’s appointment as the new Tanzanian CEO is a great support and successful move to the region’s growth.
Tanzania has plenty of opportunities and the bank ıs ready to tap them to reach the next level of growth explained Mr. Rughani.
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