UAP Old Mutual Group has appointed Vincent Rague as the new chairman of the board.
UAP Old Mutual Group is a diversified financial services group, comprising Old Mutual, UAP Insurance and Faulu Microfinance Bank.
Rague’s appointment comes after the board announced the retirement of its outgoing chairman, Joseph Barrage Wanjui.
“The Board of Directors is also pleased to announce the election of Mr. Vincent Rague, as the new Chairman of the Board with effect from 23 June 2021. Vincent was appointed as an Independent Non–Executive Director of the Board on 1st June 2018,” a statement from the group reads.
Wanjui is a corporate titan, presidential adviser, philanthropist and business magnate with interests in hospitality, insurance and real estate. He served the group for nine years and stepped down as chairman according to the company’s succession plan and corporate governance practices.
On his part, Rague is known as a skilled investment banker and public policy advisor. His wealth of experience includes service at the Kenya National Treasury, International Finance Corporation and World Bank.
He is also the co-founder of Catalyst Principal Partners, a Nairobi-based private equity fund, and serves as the chairman of FSD Africa and the Kenyan low-cost airline, Jambojet.
UAP Old Mutual Group is headquartered in Kenya, with subsidiaries in Uganda, Tanzania, South Sudan, Rwanda and the Democratic Republic of the Congo. Its products include life and health insurance, investment management and advisory, brokerage and real estate investment trusts. It has over 1.2 million customers.