Lance Mambondiani appointed Steward Bank acting CEO

Lance Mambondiani has been appointed the Acting CEO at Steward Bank as his boss, Kwanele Ngwenya leaves the organisation at the end of the month. Earlier this month several publications carried the story of Ngwenya’s exit with some referring to it as less ceremonious. Mambondiani’s appointment was approved today by the Reserve Bank and communicated by the Chairman of the bank, Oluwatomisin Fashina.

Mambondiani, a lawyer and banker, has worked for various local and international financial institutions including TN Asset Management as CEO, Kingdom Private Bank as MD, NMB Zimbabwe, Barclaycard in the UK, UBS in Switzerland, Ulster Bank in Ireland and Investec in South Africa.

Fashina’s communication today says they are still to appoint a substantive CEO to take over so it’s not clear yet if Mambondiani will eventually assume the role of regular CEO at the EcoCash Bank.

Here’s the announcement:

Following the necessary regulatory approvals, the Board of Directors of Steward Bank Limited is happy to announce the appointment of Dr. Lance Shingai Mambondiani as the acting Chief
Executive Officer.

Dr. Mambondiani has been with Steward Bank Limited since July 2014 working as a Strategy, Business Development, and E-Banking Executive. In this role he contributed to the overall strategic direction of the business as directed by the Board and was team leader in the development of the bank’s new products and channels. He has over 12 years banking and financial sector experience across several markets including the United Kingdom,
South Africa, Botswana and Zimbabwe.

The process of appointing a substantive Chief Executive Officer is currently underway, and annnouncement will be made once finalized.

Download announcement here.