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Ethiopia: Abyssinia’s VP Resigned

abyssiniaAklilu Wubet, Vice President for Corporate Service at the Bank of Abyssinia S.C., resigned from his place leaving his place vacant. This happened six months after the bank’s president left the bank and joined Debub Global Bank.

Aklilu served Abyssinia for the past three years as vice president (VP) for corporate services. He oversaw five departments; information technology (IT), e- banking, credit services, marketing and planning as well as engineering.

It was a month ago Aklilu submitted his resignation letter to Abyssinia’s Board of Directors (BOD). The BOD has nine members with a newly appointed chairman, Mesert Taye. The board approved the resignation letter upon its second meeting after the National Bank of Ethiopia (NBE) approved the appointment of its members.

The employment contract was officially terminated on Monday, February 23, 2015.

According to Fortune Aklilu holds a Bachelor of Arts Degree in Economics and Masters of Business Administration from Addis Ababa University (AAU). He has been in the financial sector for 23 years. His work experiences include working as the Vice President of Nile Insurance Company S.C. he also has teach Economics and Accounting at AAU, Royal University College and Unity University.

Abyssinia has three vice president positions; operations, corporate services and resources. They are all overseen by the president.

The Bank’s president noted, “We are searching for qualified candidates for the position and we will assign someone soon’’.

In the past year Abyssinia registered a net profit of 271 million Birr. It has now reached to 400,000 account holders, with a total deposit of 9.4 billion Birr.

According to Fortune, the last six months have seen our private banks parted with their presidents namely Berhan International Bank, Lion International Bank, Debub Global Bank and Abyssinia itself.

Two vice presidents of Development Bank of Ethiopia (DBE) has also left the Bank on January 1, 2015.

Source: Fortune