![[Ethiopia] Samuel Adnew appointed vice president of Dashen Bank](Dashen.jpg)
[Ethiopia] Samuel Adnew appointed vice president of Dashen Bank
Samuel Adnew has been appointed the new third vice president of Dashen Bank, a move interpreted as rewarding him for his long stint at the financial institution.
The 53-year-old vice president has, prior to the appointment, served Dashen for more than two decades. With a BA degree in Economics from Addis Ababa University, his last eight years was spent in a managerial position at the Corporate Planning and Development Department. His responsibility in his new position will be to manage the Research Development and Marketing and Corporate Communication Department.
The position for vice president of Market and Business Development was created anew, whereas previously there where two vice presidents in the management department – VP for Resource and Facilities Management and VP for Operational Management.
The financial sector progressively in competition, it has become a trend hiring international consulting firms to craft strategic direction. More than one bank has recently adopted recommendations of such studies revising structure, personnel and benefit packages.
Awash Bank S.C., peer of Dashen Bank, leading industry players sharing 32 pc of the private banking industry equally, is among the many that employed such model, yet fully implementing the recommendation.
As it stands it has three vice presidents same office structure, with three vice presidents, for Credit and Finance Management, Banking Operations and Corporate Services.
” The previous structure, having only two Vice president offices faced limitations as the company grows” said Mulugeta Alebachew,marketing corporate and communication Director. ” The new office will tackle gaps in communication identified while assessing efficiency of the structure.”
The new appointment came right after a year from the Banks difficult time due to series of resignation from senior personnel and rejection of replacement nomination by NBE.
The resigning of the president, Berhanu W. Sellasie and the vice president for Resource & Facilities Management, Abebe Teklu, occurred within less than a few weeks of each other. The president and vice president tendered their resignations within days of each other – April 3 and March 30 respectively. The Information Technology & e-Banking Service vice president, Abebe Girmay, followed suit and left his office on June 30, 2015.
The effort of refilling the vacant posts was an uphill. Back in September 2015, after the NBE had rejected two candidates nominated by Dashen Bank for vice presidential positions, citing under-qualification for the position, the bank also saw two of its vice presidents and its president resign.
Despite that the performance remained flowery.
