GHANA – Ransford Sowah is set to step down as the Managing Director of GCB Bank, Ghana’s largest Bank in terms of total assets and share of industry deposits.
The development at the Bank (which was formally known as Ghana Commercial Bank) was first made public at the bank’s 26th Annual General Meeting.
The Bank’s board however released a statement in August clarifying the fate of Bank’s Managing Director.
According to the statement, Mr. Sowah had tendered his resignation to the company’s board but as part of good governance, Mr Sowah will stay on in an acting position up to September 30, 2020.
“In the interest of continuity, good governance and particularly to ensure a smooth handing over, the Board has agreed that he stays on in an acting position up to 30th September, 2020,” the Bank’s board said in a statement.
His stay according to the Board will be necessary to “enable him complete all handing over protocols and assist the Bank in the transition.”
Mr. Sowah has been a Banker in the City of London for 30 years and has worked extensively in the erstwhile Ghana Commercial Bank London Branch, Ghana International Bank London and Bank of Montreal Capital Markets, London.
He is a commercially astute Business Banker & Lawyer with a consistent record of success in optimising the market, revenue, profit and service performance of organisations operating in challenging environments.
He has previously held senior management positions in Compliance, International Trade Finance, Retail Banking, Business Development and in the UK Capital Markets.
Ray Sowah attended Mfantsipm School, Cape Coast, and has a BA Honours Degree in English & Philosophy from the University of Ghana, Legon.
He is a Barrister at Law and Solicitor of the Supreme Court of Ghana and a member of the British Banker Association, Business Council for Africa and the Association of Foreign Banks, all in London.
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