Group Managing Director and CEO
Co-operative Bank of Kenya Limited
Dr Gideon Muriuki is the group managing director and chief executive officer (CEO) of the Co-operative Bank Group, which is one of the largest banks in the region with an asset base of over Kshs 342 billion ($3.4 billion), more than 5.9 million account-holders, and operations in Kenya and the region, notably South Sudan. He was appointed CEO in 2001 and has driven a remarkable turnaround of the bank from a massive loss position of Shs. 2.3 billion in 2001 to a profit before tax of over Shs. 15 billion in 2015.
Experience
Dr Muriuki holds a Bachelor of Science degree in mathematics, is a Fellow of the Kenya Institute of Bankers, and was awarded an Honorary Doctorate in Business Management in 2011. He has over 23 years’ experience in banking and finance.
He is also the managing director of Co-optrust Investment Services Limited and Co-op Consultancy & Insurance Agency Ltd – both subsidiaries of the Co-operative Bank. He is a director of Kingdom Securities Limited and also the Co-operative Bank of South Sudan, and vice-president (Africa) of the International Co-operative Banking Alliance (ICBA).
He has also in the recent past served as the chairman of the Governing Council of the Africa International University, director of the Deposit Protection Fund and a deacon/church treasurer at CITAM (Nairobi Pentecostal Church).
Dr Muriuki crafted a turnaround strategy of the bank that was underpinned by three factors: faith, a shared work-culture, and professionalism. The three pillars enabled individuals from diverse backgrounds to work together for the benefit of the bank’s shareholders, customers and other stakeholders. The faith-inspired tone defines the character of the bank and the conduct of its business.
Quotes
“We rally the team behind a shared higher calling; we are but an instrument to do God’s will, to bless His people of Kenya,” says Dr Muriuki.
“Faith plays a cardinal role in my life,” he adds. “As a born-again Christian I see my service to Co-operative Bank as part of a higher calling to fulfil God’s purpose for me in my generation. I am greatly inspired by the decision of the bank’s board of directors to declare Co-operative Bank as ‘The Kingdom Bank through which God will bless His people of Kenya’.”
Dr Muriuki notes, “The Bible says that David served God’s purpose in his generation. I pray to leave a legacy as a CEO who boldly served God in the marketplace and who led Co-operative Bank to diligently serve the Kenyan people and in the region.”
Decorations
Dr Muriuki was decorated in 2005 with the presidential award of Order of the Grand Warrior (OGW) and in 2011 with the award of The Moran of the Order of the Burning Spear (MBS) in recognition of his successful turnaround of the Co-operative Bank and exemplary service to the nation.
He is also a recipient of a decoration of Chevalier de L’orde National du Burkina Faso by the President of Burkina Faso in recognition of his outstanding contribution to development of rural finance in Africa.
He has also been recognised with the Distinguished Leadership Award by Africa International University and an honorary Doctorate of Philosophy (PhD) in Business Leadership by Kabarak University.
More recently, Dr. Muriuki was named as ‘Bank CEO of the Year – Africa 2014’ by the International Banker publication, who re-affirmed the strong growth plans of the bank underpinned by the unique regional expansion model based on inclusive growth, with following citation:
“Expanding to other African markets, beginning with South Sudan, by way of joint ventures with co-operative societies in those countries is a futuristic business model that is likely to deliver inclusive growth, and a more equitable sharing of the benefits of the rising prosperity of African economies.”
Dr Muriuki is a family man with five children and worships at Nairobi Pentecostal Church, Woodley.
