UAP Old Mutual Group has announced the appointment Mr. Vincent Rague as the chair of  its Board of Directors. This follows  the retirement of long-serving chairman and director Dr. Joseph Barrage Wanjui.

Mr. Rague, who takes the helm of the Board, is a renowned investment banker and public policy advisor, and has previously worked at the National Treasury, the International Finance Corporation and the World Bank. He is a co-founder of Catalyst Principal Partners, a Nairobi-based private equity fund, and serves as chairman at FSD Africa and JamboJet.

Mr. Rague holds a Masters in Business Administration (MBA) degree from Darden Business School in University of Virginia and is a graduate of the Executive Development Program at Harvard Business School.

Dr. Wanjui, one of Kenya’s most renowned business leaders and investors, stepped down as Chairman of the UAP Old Mutual Group Board of Directors effective June 22, 2021. According to the company, Dr. Wanjui’s retirement is in line with the company’s succession plan and corporate governance practices.

The company realeased the following statement, “Dr. Wanjui has imparted immense value to the Company in his nine years he served as director. As he steps down, he leaves UAP Old Mutual Group in the strongest position possible to achieve its goal of transforming lives and enhancing value to customers and other stakeholders. We record our greatest appreciation to the outgoing chairman for his contribution to the leadership of the Company during his tenure.”

UAP Old Mutual Group is a diversified financial services firm comprising Old Mutual, UAP Insurance and Faulu Microfinance Bank. The firm has 1.2 million customers across Kenya, Uganda, Tanzania, Rwanda and South Sudan. Ends