Published on October 31, 2024 by Agencies for Kenya Online News
Last Updated on 1 year by Agencies for Kenya Online News
The Diamond Trust Bank Kenya Limited (NSE: DTK) Board of Directors has appointed Mr Murali Natarajan as its Managing Director and Chief Executive Officer for Kenya, with immediate effect.
Speaking when she confirmed the appointment of the new Managing Director and Chief Executive Officer for Kenya, DTB Group CEO Mrs Nasim Devji said Mr Natarajan has joined the Bank from DCB Bank India, where he was the immediate former Managing Director and CEO.
Following recent regulatory approvals, the appointment of Mr Natarajan is part of Diamond Trust Bank Kenya Limited’s (DTB) recently announced strategic corporate reorganisation, focusing on enhanced regional business growth.
As an Aga Khan Development Network (AKDN) affiliate, DTB has operated in East Africa for over seventy-five years. The corporate reorganisation, announced in May 2024, is part of the firm’s target to acquire 10 million customers across the East African region by 2026. One of the key pivots of the strategy involves strengthening the DTB Group Executive and Leadership Structure and appointing a substantive Managing Director and Chief Executive Officer for Kenya.
At the Group C-suite level, immediate former DTB Kenya Managing Director and CEO, Mrs Nasim Devji, who has spearheaded DTB’s growth plans for over twenty (20) years and holds the dual position of Group CEO as well as the CEO for DTB Kenya, will dedicate more time and focus in broadening and strengthening DTB’s stakeholder relationships and franchises across the East Africa region, as the Group continues its future course of enhancing customer experience and its product offering through digitalisation and other initiatives.
As the Group CEO, Mrs Devji will continue to oversee DTB Group’s multiple entities and provide leadership and strategic direction in the areas of Information Technology, Financial Management, Corporate Governance, Risk and Compliance, amongst other functions across the Group. She will spearhead service delivery and operations excellence in Kenya, Uganda, Tanzania and Burundi, ensuring synergy and expansion across different business units, promoting long-term sustainable growth, and effectively implementing the Group’s vision to improve DTB’s positioning in all its markets.
“As part of our regional business growth plans, we welcome Mr Natarajan, a seasoned commercial banker with a wealth of experience, to assume the substantive DTB Kenya CEO role. In this role, Mr Natarajan will provide strong leadership to elevate and accelerate the DTB Group’s Kenyan franchise business growth,” Mrs Devji said.
She added, “The MD and Country CEO for DTB Kenya, along with the current Country CEOs for DTB Uganda, DTB Tanzania, and DTB Burundi, will report to and support me [Mrs Nasim Devji] to ensure the smooth customer delivery and continued success of DTB in each country,” she said.
In Kenya, DTB has recently set a solid foundation for successfully implementing their regional growth strategy. This strategy is focused on building and enriching customer value propositions by investing in people, digital capabilities, and skills.
“I am honoured to join DTB Kenya as the Managing Director and CEO and I look forward to working closely and supporting Mrs. Devji and the entire team to drive growth and continue to deliver value to our customers in Kenya,” Mr. Natarajan commented.
Mr Natarajan, a Bachelor of Commerce Degree holder from Delhi University, is Fellow Member of the Institute of Chartered Accountants of India and has over 40 years of global experience in banking and financial services, covering diverse geographies and banking verticals.
He previously served as the Managing Director & Chief Executive Officer of DCB Bank, India between 2009 and 2024. He has over 40 years of global experience in banking and financial services, covering diverse geographies and banking verticals. Before joining DCB Bank, Mr. Natarajan was the Global Head of SME Banking at Standard Chartered Bank. Prior to Standard Chartered, Mr. Natarajan spent 14 years with Citibank’s consumer division working across various functions and businesses. During his long diverse career in banking, he worked in Singapore, Hong Kong, Indonesia and South Korea where he provided transformative leadership in building successful retail and SME banking franchises across these markets.
