Sanlam taps ex-Jubilee boss for CEO post
Patrick Tumbo takes over from Mugo Kibati who left the company to pursue other interests. The new Group CEO will be charged with continuing the implementation of Sanlam’s five-year strategic plan and growth strategy. A statement by Sanlam credited Mr Tumbo with growing Jubilee’s Kenya business from Sh4 billion to Sh24 billion during his tenure.
Former Jubilee Insurance CEO Patrick Tumbo at a past annual general meeting. He will now head Sanlam Kenya. File Photo | NMG
NSE-listed non-bank financial services firm Sanlam Kenya #ticker:PAFR has named Patrick Tumbo as the company’s group chief executive officer with immediate effect. Mr Tumbo takes over from Mugo Kibati who left to pursue other interests. George Kuria, the firm’s general insurance chief executive officer, has been the acting group CEO for the past six months. Mr Tumbo joins Sanlam Kenya from Jubilee Insurance #ticker:JUB where he was the CEO, Kenya. He also served as Jubilee’s Group technical head on insurance and reinsurance and on subsidiary boards. A statement by Sanlam credited Mr Tumbo with growing Jubilee’s Kenya business from Sh4 billion to Sh24 billion during his tenure.
Bob Collymore in first public appearance after return
“He was also instrumental in driving business growth through technology adoption and widening the client base by venturing into new untapped markets in the East African region,” said the insurer.Sanlam board chairman, John Simba, said Mr Tumbo will be assuming overall leadership for Sanlam Kenya PLC and the respective group subsidiary business. “In Mr Tumbo, we have secured a seasoned business leader who we also believe is the right fit to steer the Sanlam Group to new heights. This is part of our corporate strategy to position the group as a formidable non-bank financial services player in Kenya,” said Dr Simba in the statement.An alumnus of the University of Nairobi, Mr Tumbo holds a Masters of Business Administration degree, specialising in Strategic Management, Marketing and International Business and a Bachelor of Commerce (Insurance option) from the same university. He started his career as a Management Trainee at Alico Kenya (now AIG Kenya) in the early nineties and went to serve in different positions at Co-operative Insurance Company, PTA Reinsurance (ZEP-Re) and then up to CEO at Jubilee Insurance Company of Kenya Ltd. The new Group CEO will be charged with continuing the implementation of Sanlam’s five-year strategic plan.ALSO READ: Revealed: Kenya’s list of most expensive CEOsHow to plan and announce resignation of your CEOBob Collymore in first public appearance after returnClear communication on CEO good for share value