Mr. Addo takes over from Mr Stephen Sekyere-Abankwa, a co-founder of the Bank, who retires after 23 years of dedicated service and exemplary leadership to the Bank.
A statement from Prudential Bank noted that Mr Addo comes to the job with over 30 years of rich corporate experience in banking and finance, having worked with reputable institutions both in Ghana and the United Kingdom (UK).
Addo holds a Degree in Applied Economics from the University of East London, UK and is a Chartered Accountant by training.
He is also a Fellow of the Institute of Chartered Accountants in England and Wales (ICAEW) and holds a Degree in Applied Economics from the University of East London, UK.
“I am truly honoured to lead the strong and dedicated team at Prudential Bank and I will leverage the strong foundation built by my predecessor to create value for all stakeholders of the Bank,” Mr Addo said.
Mr Addo hasheld various senior and executive management positions since he joined Prudential Bank in 2009.
When he joined the Bank in 2009, he was appointed Head of Corporate Planning and Research and was responsible for Corporate Strategy, Budgeting and Research.
In January 2017, he was appointed Head of the Credit Administration Division with responsibility for four key functions: Credit Appraisal, Credit Control, Customer Accounts Management and Small and Medium Enterprises/Non-Traditional Exports (SME/NTE).
In October 2018, Mr Addo was promoted to the position of Deputy Managing Director for Finance, Administration and Credit Administration, a position he held until his appointment as the Managing Director.
Prior to joining Prudential Bank, Mr Addo worked in the professional and commercial accounting sector in the United Kingdom.
While at the UK, he first served as an Auditor at Landau Morley Chartered Accountants for nine years and then as a Management Accountant and Financial Controller at Drivers Jonas (now Drivers Jonas Deloitte) for 13 years.
The Acting Chairman of the Board of Prudential Bank, Mr Kwaku Agyei-Gyamfi, said: “I am pleased to have Mr Addo step into the role of Managing Director. I have no doubt that he has the passion and the dedication to propel the Bank to further growth”.
Founded in 1996, Prudential Bank has gradually grown and now has 40 Branches and agencies located in 6 out of the 10 regions in Ghana.
The mid-sized bank specializes in offering local and international banking services to individuals and SMEs.