Universal Merchant Bank Ltd appoints new Chief Executive Officer

Universal Merchant Bank Ltd (UMB) is a leading Ghanaian bank. It has served businesses and families for over 50 years, since 1972. UMB is known for its customer focus and digital banking solutions. The bank recently appointed Dr. Philip Oti-Mensah as its new Chief Executive Officer.

Dr. Oti-Mensah has over 20 years of experience in banking and finance. He brings expertise in strategic leadership, operational excellence, and innovation-driven growth to UMB. His career includes significant roles across Africa, focusing on growth and financial inclusion.

He has led various financial institutions, showcasing his ability to drive transformation. His past positions include Management Consultant at FINCA Bank Tanzania and Deputy CEO of ProCredit Ghana. He also served as CEO of Union Savings and Loans and OmniBank.

Most recently, he was the Executive Director and COO of OmniBSIC Bank. There, he integrated systems after a merger and improved customer experience.

Dr. Oti-Mensah holds a Bachelor’s degree in Banking and Finance from the University of Ghana Business School. He also earned an MBA in Project Management from the same institution. Additionally, he has a Master’s in Applied Business Research and a Doctorate in Business Administration from the Swiss Business School.

His executive education includes programs from INSEAD in Singapore and London Business School in the UK. He is a Fellow of the Chartered Institute of Management Accountants (CIMA) and a Certified International Change Manager (CICM). He also holds a postgraduate diploma in International Bank Management from ProCredit Academy in Germany.

Dr. Oti-Mensah's contributions have earned him several awards, including the President’s Award for Excellence in Banking (2020). He was also named Private Sector COO of the Year (2023).

In addition to his corporate roles, he speaks internationally on Leadership and Financial Inclusion. He serves on several boards of reputable institutions in Ghana.

Mr. Derrick Hope Gidzi, Acting Chairman of UMB's Board, expressed excitement about Dr. Oti-Mensah's appointment. He stated that Dr. Oti-Mensah's track record aligns with UMB's strategic goals.

In response to his appointment, Dr. Oti-Mensah said he feels honored to join UMB at this crucial time. He emphasized UMB's commitment to excellence, innovation, and service to customers and communities.