FDH Bank appoints new managing director

FDH Bank has appointed Eric Tenie Ouattara from Ivory Coast as new managing director to replace seasoned local banker Phillip Madinga who left the institution last December.

The bank’s board chairperson Eric Sankhulani said in a statement yesterday Ouattara’s appointment is with effect from June 22 2016.

Umoyo House in Blantyre, the home of FDH Financial Holdings, where the decisions were made
Umoyo House in Blantyre, the home of FDH Financial Holdings, where the decisions were made

He said: “Eric is a seasoned banker with more than 20 years experience in banking and financial industry in different African countries in West and East Africa.

“For the past 14 years, Eric has been working in top management positions in different institutions in Francophone and Anglophone countries. Eric has participated in the creation of a microfinance institution in his country. He has vast skills in credit, risk management, strategy development and implementation and is a great leader.”

Sankhulani said Ouattara graduated from University of Cote d’Ivoire with a master in enterprise economics and has a certificate in advanced studies from Institute Technique de Banque, Paris, France.

“Eric brings to FDH Bank this vast wealth of knowledge and experience at a time FDH Bank is integrating its activities with Malawi Savings Bank [MSB] to form one of the largest financial institutions in Malawi,” he said.

Sankhulani said Quattara is an experienced banker with vast international exposure in senior management.

“He is passionate about the development of branch networks, digital channels and products that add value to customers. We believe that Eric’s appointment will be valuable to the business as well as to our customers,” he said.

FDH Bank is a subsidiary of FDH Financial Holdings Limited, which acquired 80 percent stake in previously government wholly-owned bank, Malawi Savings Bank. n

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