NCBA Group has brought two senior executives from South African banking giant Nedbank into its boardroom following the acquisition of a 66 per cent controlling stake in the Kenyan financial services group, marking a major change in its leadership structure.
The appointments of Michael Howard Davis and Anél Bosman took effect on Tuesday, November 3, 2026, following approval by the NCBA Group Board of Directors.
Davis serves as Chief Financial Officer and Executive Director of Nedbank Group Limited, while Bosman is the Chief Executive of Nedbank Corporate and Investment Banking. Their entry into NCBA's board comes after Nedbank secured majority ownership of the Kenyan lender, giving the South African institution a stronger presence in its governance.
In a public notice, NCBA said the two appointees bring extensive knowledge and experience in banking, financial management, corporate governance and leadership, which will add to the group's oversight and strategic direction.
Davis joins the board with more than 28 years of experience in the financial services industry. His areas of expertise include financial management, banking, treasury operations, risk management, capital and balance sheet management, as well as regulatory compliance and corporate governance.
Before taking up his current position at Nedbank, Davis worked at BoE Bank Limited, which was later acquired by Nedbank. He also previously worked at Deloitte, where his responsibilities focused on banking, treasury and risk management.
Beyond his executive responsibilities, Davis serves as a Non-Executive Director of Nedbank Private Wealth Limited in the Isle of Man.
He is a Chartered Accountant of South Africa and holds a Bachelor of Commerce (Honours) degree and a Postgraduate Diploma in Accountancy from the University of KwaZulu-Natal in Durban.
Davis has also completed an Advanced Management Programme at INSEAD in Fontainebleau, France.
His contribution to financial leadership was recognised in November 2024 when he was named CFO of the Year by CFO South Africa.
Bosman, on the other hand, brings approximately 24 years of experience at Nedbank, having built her career within the group through several senior management positions.
She started out as a trader before moving into leadership roles, including Head of Risk at Nedbank Capital. She later served as Chief Financial Officer and Head of Strategy within the same division.
In 2011, Bosman was appointed Chief Operating Officer of Nedbank's corporate and investment banking cluster, before taking charge of its Markets business between 2015 and 2020.
Her professional experience covers corporate and investment banking, financial markets, risk management, finance, strategy and executive leadership.
Academically, Bosman holds a Bachelor of Commerce degree in Econometrics, which she obtained cum laude from the University of Johannesburg. She also has a Master of Philosophy in Economics from the University of Cambridge and has completed an Advanced Management Programme at Harvard University.
Meanwhile, NCBA has appointed Esther Wanjiku Kung'u as its Group Company Secretary as the institution makes further changes to its senior management and corporate governance structure.
Kung'u has been part of the NCBA Group since 2008, when she joined through NCBA Insurance Company Limited. She has since served in various positions within the organisation, gradually advancing through its ranks before securing the latest appointment.
She is an Advocate of the High Court of Kenya and a Certified Public Secretary (CPS-K). She also holds an Executive Master of Business Administration from Moi University.
The three appointments mark another development in NCBA's leadership following Nedbank's acquisition of a majority stake in the group. The changes bring two senior representatives of the South African lender into NCBA's board while placing an experienced internal executive in charge of the company secretariat.
Davis and Bosman's backgrounds in banking, investment services, financial management and risk oversight are expected to add to the experience available to NCBA's board as it enters the next phase under its new ownership.
The announcement was signed by NCBA Group Managing Director John Gachora on November 3, 2026.
In the notice, NCBA congratulated Davis, Bosman and Kung'u on their respective appointments and expressed confidence in their contribution to the group's continued growth and governance.
The announcement was issued with the approval of the Capital Markets Authority under the Capital Markets (Securities) (Public Offers, Listings and Disclosures) Regulations, 2023.