Chase Bank has tapped a CfC Stanbic investment banker as the mid-tier lender seeks to broker deals and boost its corporate banking business. The bank has appointed Kennedy Ouko as director of business development days after its stock brokerage firm acquired an investment banking licence from the Capital Markets Authority (CMA). Mr Ouko was previously director of corporate and investment banking at CfC Stanbic and becomes the bank's second top chief deal-maker to quit for a rival. Revenue generation CfC Stanbic, which is majority owned by South Africa's Standard Bank , has emerged as a key player in the corporate lending market including the on-going Sh5.4 billion fundraising by East Africa Breweries Limited (EABL) via commercial paper. "He will be instrumental in driving the bank's business strategy to achieve growth objectives as we continue to bolster our services offering in agri-business, SMS, women and youth segments," said Paul Njaga, Chase Bank deputy CEO. "Kennedy will provide strategic leadership in development and execution of appropriate business development strategies as well as driving revenue generation for the bank." Mr Ouko joins Chase Bank months after Samson Okero, former head of corporate banking at CFC Stanbic, moved to National Bank . Mr Okero is head of the corporate banking division and joins at a time when the bank is looking to lend more to companies and cut its reliance on retail business.
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