JPMorgan Chase & Co. recognized as the world’s largest bank, has announced the appointment of former Central Bank of Kenya (CBK) executive, Sailepu Montet, as its new Country Manager for Kenya. This strategic move is part of the bank’s ongoing efforts to expand its presence in Sub-Saharan Africa (SSA), a region where it has been actively serving clients for over 90 years. In line with its expansion strategy, J.P. Morgan is also setting up new representative offices in Nairobi, Kenya, and Abidjan, Ivory Coast.
Sailepu Montet comes to J.P. Morgan with a rich background in banking, boasting over twenty years of experience across both the public and private sectors, with a particular focus on financial markets. Before his new role at JP Morgan, Montet served as the Deputy Director of Financial Markets and Head of Reserves Management at the Central Bank of Kenya.
His extensive experience in the banking sector also includes significant positions at Barclays Bank of Kenya and Absa Bank Kenya, where he held the roles of Vice President and Head of Balance Sheet Management, respectively. Montet’s appointment as Chief Representative Officer for J.P. Morgan in Kenya is pending regulatory approval. The decision to expand J.P. Morgan’s operations into Kenya reflects the bank’s strategic intent to leverage the continent’s vast growth potential.
Africa’s promising outlook is attributed to factors such as rapid urbanization, significant infrastructure development, and the availability of natural resources. Olivier Eweck, Head of Public Sector Coverage for Africa at J.P. Morgan, expressed enthusiasm about the bank’s deepening engagement with the region, stating, “We eagerly anticipate this new phase of our partnership with the region.”
