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Jun 22
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Thursday, 20 March 2014 10:27

Keli Gadzekpo Announces His Departure From Databank and Names CEO Successor.

20 March 2014, Accra: Databank announces that CEO, Keli Gadzekpo, will leave his current role at the end of May, to take up the role of CEO at Enterprise Group. Kojo Addae-Mensah has been appointed as Databank’s new CEO in a process led by Databank Chairman, Ken Ofori-Atta. He joins from Ghana Commercial Bank (GCB) where he is the Chief Operating Officer. Download Press Release

Commenting on the appointment, Keli said, “In Kojo Addae-Mensah we have found all of the characteristics that we identified in our CEO succession planning to ensure Databank has the right leadership as it moves into a new phase; he has the values, vision, energy and the intellect to maintain our number one position as the leading asset management firm in Ghana. His deep sector experience will help steer Databank through Ghana’s dynamic and increasingly competitive financial services market.”

Kojo Addae-Mensah said, “Databank is a proud Ghanaian multi-national that has innovated in financial services since it was launched in 1990. My first job was at Databank as a graduate in 1998 some 16 years ago; The Databank brand is iconic, Ghanaian, entrepreneurial, has a can do spirit, is respected for its values, is tested, trusted and robust and I am really humbled to be asked to lead this firm. We are witnessing a rapid evolution of financial services on the Continent, which makes it an exciting and testing time to be setting a strategy to consolidate our dominance in our asset management business. It is good to be coming back home to join such a great team.”

Ken Ofori-Atta added, “Kojo is home-grown Ghanaian leadership talent with an unmatched professional pedigree and more significantly he shares our leadership values. He can operate in a multi-national context but his feet are firmly planted in our culture. Although just 43, he already has invaluable experience of working as Chief Operating Officer at one of the country’s largest banks, with one of the widest retail networks. Kojo represents a belief in the capacity of the new generation of Ghanaians to surpass our legacy and a bold step to reinvigorate the future. We see great potential in terms of what he can do to create immense value for our clients and stakeholders.”

Kojo has a broad base of experience in the financial services sector that started at Databank where his first job was in the corporate finance team. This proved to be the foundation of his banking career before leaving to take up roles at Standard Chartered, Barclays and most recently at GCB. In the last four years, Kojo has also served on the Board of Databank’s Balanced Fund so although an external appointment, he is a member of the extended Databank leadership team. Databank manages over 60% of assets in the Ghanaian mutual fund and unit trust market.

Keli will take up his new CEO role at a financial services company, Enterprise Group on June 1st 2014. He has been a serving Board member at Enterprise Group for 16 years and Chairman of the Boards of Enterprise Properties and Enterprise Insurance. This new role is an opportunity for him to shift emphasis from stewardship and overseeing governance as a Director to leading the company at an exciting time in its 90 year history.

Both Keli Gadzekpo and Ken Ofori-Atta will remain on the Board of Databank, the company they co-founded in 1990. Ken, in his current role as Chairman and Keli as a Non-Executive Director.



About Databank

Headquartered in Ghana and with a presence in Liberia and The Gambia, Databank was one of the first investment banks to emerge from West Africa, and is now Ghana’s leading asset management firm. Databank was co-founded in 1990 by Ken Ofori-Atta and Keli Gadzekpo and provides corporate finance advisory, stock brokerage, fund management, private equity and research services to a global client base. Over the past 24 years Databank has been instrumental in the development of the Ghanaian capital market and has built a strong reputation for its pioneering work, including the creation of Ghana’s first stock market index. Databank was the first to introduce foreign investors to the Ghanaian stock market, the first to successfully arrange a merger on the Ghana Stock Exchange, and it also launched the first mutual funds in Ghana. Databank is the market leader in the mutual funds and unit trusts industry, with over 60% market share. Databank manages EPACK, the most successful pan-African equity mutual fund, which has averaged 41% annually since 1996 with a cumulative return of more than 18,700% since inception.

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