Standard Chartered Bank Kenya has appointed Gladys Warirah as Chief Financial Officer and Executive Director, subject to approval by the Central Bank of Kenya and the Capital Markets Authority.
She will succeed Chemutai Murgor, who exits the role on 31 May 2026.
Leadership Transition Ahead of FY 2025 Results
The transition comes just weeks before the lender announces its FY 2025 audited results and final dividend on 18 March, closing a year marked by a profit warning and multiple senior leadership changes.
At the CEO level, Kariuki Ngari is set to retire after more than two decades in Kenya and Africa roles. His successor, Birju Sanghrajka, awaits regulatory approval.
Warirah’s Track Record
Warirah brings over 20 years of experience in treasury, finance, governance, and controllership. She previously served as Financial Controller at the Kenyan unit before relocating in 2023 to become Country Treasurer at Standard Chartered Malaysia.
Her career spans Deloitte, Ernst & Young London, Aviva Plc, and senior finance roles at Standard Chartered. She holds a B.Com in Accounting from the University of Nairobi and an MBA from Warwick Business School.
Warirah is also a seasoned board member with 18 years of experience across finance, insurance, NGOs, and education sectors. She was recognized in Kenya’s “Top 40 Under 40” awards for her contributions to business and public service.
Murgor’s Legacy
Murgor will remain in office through the FY 2025 results. She departs after 25 years at Standard Chartered, having overseen finance functions across East Africa and later Africa.
During her tenure, the bank cited improved balance sheet management, operating efficiency, and technology‑led finance transformation.
Earnings Pressure
The governance changes come against a weaker earnings backdrop. In 2025, the bank issued a profit warning, guiding net profit would decline by at least 25% from FY 2024, largely due to pension settlement costs.
FY 2024 had marked a rebound, with profit after tax rising to KSh20.06 billion from KSh13.84 billion in 2023. But by Q3 2025, profit before tax had fallen 41% year‑on‑year to KSh13.20 billion, while profit after tax dropped 38% to KSh9.79 billion.
Asset quality improved, with gross non‑performing loans declining to KSh9.13 billion from KSh12.14 billion a year earlier.
