AfrAsia restructures management team
The Mauritius-headquartered AfrAsia Bank has restructured its senior management team.
Kamben Padayachy, previously general manager and head of global banking, treasury and markets which included responsibilities for trade finance operations, has been promoted to deputy CEO of the bank.
Padayachy has almost 20 years of experience in banking. Earlier this year he was appointed as member of the board for AfrAsia Kingdom Bank in Zimbabwe. The AfrAsia secured a stake in Kingdom Bank at the beginning of 2012.
Padayachy’s promotion and instrumental role in AfrAsia’s activities in Zimbabwe reflect the Mauritian bank’s strategy to support trade and investment in Africa.
“In the face of challenging global market conditions, AfrAsia Bank is continuing to pursue an audacious strategy to tap into the growing trade, investment and capital flows between Africa and Asia. As we grow we will continue to review our existing structure to ensure it is relevant to our business needs and provides us with the flexibility and support we need throughout the business,” commented James Benoit, CEO, AfrAsia Bank.
As well as taking on his new duties as deputy CEO, Padayachy will maintain his role as global head of banking, treasury and markets.
The bank’s restructuring also saw a number of new appointments and promotions in the institution’s private and domestic banking arms.