Heads appear to be rolling following the collapse of two financial institutions – UT Bank and Capital bank – on Monday as a result of their insolvency.
Information reaching Daily Guide indicates that Stephen Antwi-Asimeng, Chief Executive Officer (CEO) of the defunct UT Bank and Gillian Slater, Chief Operating Officer (COO), have been asked to go home with immediate effect.
This follows the collapse of the once vibrant banks, which collectively had 53 branches, as at the time of the takeover by GCB Bank on Monday.
These banks are currently being absorbed by GCB Bank Limited which increased its current branches nationwide from 161 to 214.
Mr. Antwi-Asimeng assumed the position of CEO with over 25 years of solid professional experience in Banking & Finance, Investment, Management and Leadership, while Ms Slater joined as a seasoned financial professional, with over 20 years of experience gained in several multinational organizations.
During her appointment, she was tasked to drive UT Bank’s financial performance with direct supervision over the finance, treasury and investor relations.
Daily Guide has also been informed that all general managers at the bank have been given six months’ contract, and every other category of staff has been urged to re-apply. Even though workers of the banks have been told not to worry their heads over any job losses in the interim, they are expected to be put on rigorous probation, as GCB Bank undertakes a skills set analysis to determine who would be maintained or sacked.
This exercise is billed to run into the next six months when the full absorption of their companies into the GCB system would have been completed.
The Bank of Ghana (BoG) has also announced that it was carrying out a forensic audit into the causes of the banks’ insolvency, as well as roles played by the directors to ascertain the underlying factors.
To help carry out proper investigations, vehicles of both banks have been grounded for verification by the receiver – Pricewaterhouse Coopers (PwC).
Source: Daily Guide
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These 2 people are liars and sweet mouthed portraying to Amoabeng that everything was ok with the bank which in actual fact it was not. The same thing the previous MD did. They are all liars and cheats but they still attend church - God forgive us all, some Christians indeed
Thank you. put some sense into Ghanaians who are hypocrites and don't know anything about the management of banking. this amoabeng guy was criticized for seizing people who could not pay their loans houses and cars now he is being accused of giving loans to his friends and not claiming the money back. how does this make sense and what do people want from this amoabeng man. he employed people and paid them well to be loyal to the company, repayment of bank loan is different from that of unique trust and he was not going round collecting the repayment. people should think and stop attacking amoabeng who put all his trust in his management to manage the bank but has now let him down. people should realize that he was not a manager, he was part of the top management and could not take decisions alone, decision were sometime taken without him unless he was needed which most of the time he gets to know very late because they kept lying to him
these fired executives had "SOLID" credentials. THey have MBA. THey have all the qualifications. They are 'financial gurus'. They were paid big salaries for the stuuuuuuupiiiid thing they did. But they run such a firm to bankruptcy. They lived in plush houses and drove expensive cars. They took vacations abroad at the expense of the bank. Yet, they will tell you that they are gurus. They are experts etc. Fooooooooolish Ghanaians.
you know nothing. you full of garbage, go get your facts right and come again. semi literate with grass growing in your brains. you have no wits
Former MD did not resign, she was SACKED! Amoabeng was the CEO. You guys are too quick to judge, was this amooabeng not the very person who started the unique trust financial services? was the unique trust not successful? his workers and managers convinced him to go into banking knowing what they wanted to do. if you guys knew how the MD messed everything up before being sacked, you will pity amoabeng, if you don't know the details don't spew out t.r.a.s.h
The report from BOG was that UT was on special help for two years and they could not turn around the schedules of the Bank. The stock exchange require quarterly and annual reports and UT stopped producing that reports since 3015 and all the subscribers did not raise any alarm that they were not receiving their reports before the ramifications.
These two guys have been sacked, fair enough. what about the MD of capital bank? is it because he was the classmate of Ken ofori atta at Achimota, so he is been shielded? or is it because of the influence of Dr Otabil on Ken, he is getting away and been retained? Nana should be very careful about the collapse of these banks as Ghanaians would be looking on keenly. any attempt to shield the bosses of capital bank would be met with the fiercest resistance and I am beginning to think that is case.
The two top officials of the bank were not given the free hand to operate by the directors of the bank. Ask Amoabeng why he failed to collect all the loans under his administration and also why the former MD of the bank resigned. Investigations will soon vindicate this two people who were just employed less than two years ago
Amoabeng should be ask why he resigned. He had already collapse the bank. This two people have done nothing wrong
These 2 people are cheats and collapsed the bank. They should be held accountable. Someone has built his bank and employed you when he was about to retire to take over and you mess the business up. Your time has come Stephen and Gillian