Addis Ababa, February 6, 2019 – The Board of Directors of Wegagen Bank has announced that Ato Abay Mahari has been appointed as the 5th Chief Executive Officer/President of Wegagen Bank, effective February 1, 2019.

Ato Abay Mehari has an extensive experience in the banking industry. He graduated from Addis Ababa University with BSC in statistics in 1985 and earned a Masters Degree in Business Administration from Greenwich University. He started his career as a young professional with Commercial Bank of Ethiopia in 1986 where he worked in diverse roles ranging from junior statistician, planning and budgeting officer, Statistics Department Head, and Credit Information Head. He has served as Retail Credit Assessment and Corporate Relationship Manager, consecutively. During his continued career at the CBE, he has been elevated to a higher position to serve as the Vice President, Credit Management function of Commercial Bank of Ethiopia from 2008, up to his appointment at Wegagen Bank as a President.

The Chairman of the Board of Directors of Wegagen, Ato Mengisteab G/Kidan said, “Ato Abay Mehari is a seasoned banker and his career which spans over 28 years within the banking industry combined with his leadership capability will be of significant value in his role as a CEO”. The Chairman added, “The Board of Directors is pleased to appoint Ato Abay to the role of Chief Executive Officer and look forward to leveraging his expertise and track record in steering the Bank forward”.

Ato Mengisteab stated that Ato Abay Mehari replaces Ato Araya G/Egziabher who recently announced his resignation from the position. Ato Araya has been serving the Bank at different capacities over the last almost 20 years, thirteen of which as a CEO. The Chairman added, “on behalf of the Board of Directors, the Management, and entire Bank’s community, I would like to thank Ato Araya for his dedicated service & outstanding achievements”.

The newly appointed CEO of the Bank commented saying that he is very pleased to joining the Bank to play his part in the execution of its corporate strategy going forward. Finally, Ato Abay Mehari said, “I would like to thank the Board of Directors of Wegagen Bank for the privilege and honor it has given me to lead one of the leading private Banks in the country. Thus, together with the support of the board and the Bank’s Management team, I am confident of continuing the Bank’s remarkable journey these past 21 years and contribute much to assure the intended growth and development of the Bank in the future.”

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