Mr. Owusu-Hemeng joined the bank in May 1996 as the General Manager for Corporate Services, a position he held until the end of 2003. He was appointed Executive Director, Business Strategy in 2004, following the bank’s rollout of its new business model and the subsequent reorganization of the bank’s structures then. In April 2005, he was appointed Acting Deputy Managing Director and also doubled up as acting Managing Director. Mr. Owusu-Hemeng was confirmed as the substantive Managing Director in the same year, a position he has held until his retirement now.

Mr Owusu-Hemeng graduated from the University of Ghana Business School (then School of Administration) with a Major in Management option, in June 1972. He joined Standard Chartered Bank Ghana Limited the same year and rose through the managerial grades to reach Head of Corporate and Institutional Banking in 1991.  He took an early voluntary retirement in February 1996 before joining The Trust Bank in the same year.

Under his leadership, he was able to transform the bank’s image into an exciting financial services brand, a brand, whose key attributes are anchored around performance and passion and standing very tall among its peers. It is no wonder, therefore, that the bank was voted CIG Bank of the year in 2007 and also Ghana’s Best Bank in 2008 by the London-based Emeafinance magazine.  TTB currently remains the most prestigious company, third best financial institution and second best bank in Ghana, courtesy the 2008 Ghana Club 100 rankings.

Reinforcing the above achievements is the excellent financial performance of the bank for the past 5 years of Owusu-Hemeng’s leadership. TTB has, within the period, achieved substantial growth in income and also considerably grown its balance sheet. Total Income, for instance, has grown by 186.32% from GH¢15.42 million in 2005 to GH¢44.15million in 2009 with Net Profit after tax for the same period increasing by 145.09% to GH¢11.1 in 2009. On the Balance Sheet side, the bank grew its Shareholders’ Funds by 296.28% to GH¢40.09 in 2009 from GH¢10.9 in 2005 whiles Total Assets went up by GH¢216.93% to GH¢311.34 in 2009 within the same period.

With these exciting results, Mr Owusu-Hemeng retires from the bank as an accomplished banker with almost 4 decades of banking practice.
In the meantime, the Board of Directors has named Mr. Lawrence Yirenkyi-Boafo, the current Deputy Managing Director to take over in an acting capacity.

Mr. Yirenkyi-Boafo is a Chartered Accountant and holds an MBA in International Banking and Finance from the Birmingham Business School, University of Birmingham, UK. He is a product of the University of Ghana Business School, having graduated in 1989 With a B Sc Degree in Administration.

He joined the bank in February 1993 and has had about seventeen (17) years middle to top management work experience in various departments, including Accounting, Finance and Controls, Administration, Marketing and Treasury. Mr. Yirenkyi-Boafo was the Executive Director responsible for Central Management of the bank from January 2004 to March 2006 and then appointed Deputy Managing Director from March 2006 to date.

He played a pivotal role in the transformation of the bank’s operations from the branch-based product oriented structure to the current model where the bank’s business is built along customer affinity groups. More is expected of him, especially so as proceeds from the Renounceable Rights Issue announced by the bank last year are expected to start  flowing in after  April 2010.

D. Kasser Tee
Head, Marketing & Corporate Affairs