FDH Bank hires Ivory Coast’s Ouattara as MD

FDH Financial Holdings Group—the parent company of FDH Bank which acquired 75 percent stake in the previously wholly State-owned Malawi Savings Bank (MSB) in July— has hired an Ivorian Tennie Ouattara as new Managing Director.

Ouattara, described by FDH as a season banker,  has more than 20 years experience working in banking and financial industry in different countries in Africa.

Chairperson of FDH, Eric Sankhulani said the new managing director  has “vast skills in credit, risk management, strategy development, and implementation.”

He is also touted as a “great leader.”

The Ivorian comes to replace  Phillip Madinga who resigned from his position.

Madinga, a Stellenbosch University MBA holder,  well known in the banking sector for his strong leadership credentials, joined First Merchant Banl.

He served in top positions as head of corporate banking at Ecobank (formerly Loita Investment Bank) between 2002 and 2005 before joining Standard Bank Malawi Limited as director of corporate and investment banking and later joined FDH Bank.