Issue Date: 
Friday, April 17, 2015 - 16:45

Investrust Bank PLC is pleased to announce the appointment of Dr. Richard K. E. Chembe as Managing Director with effect from 1st May 2015 subject to Bank of Zambia approval. Dr. Chembe will take over from Mr. Friday Ndhlovu who will retire from the only listed indigenous Bank on 31st May 2015, as announced at the Bank's 24th Annual General Meeting held on 2nd April 2015. 

Dr. Chembe has extensive experience in the Banking and Financial Services sector having worked in various senior management portfolios at the Bank of Zambia and the International Monetary Fund. He also served as the Special Assistant for Economic and Development Affairs to the 4th President of the Republic of Zambia. 

Dr. Chembe holds a Bachelor of Arts (Economics with Business Administration) Degree obtained from the University of Zambia, a Master of Arts in Money, Banking and Finance from the American University in Washington DC and a Doctor of Philosophy in Economics from the University of London. 

Announcing Dr. Chembe's appointment, Investrust Board Chairman Dr. Jacob. M. Mwanza said "The Board is confident that Dr. Chembe will excel at Investrust Bank owing to his deep knowledge of the market in which the Bank operates, coupled with his experiences in dealing with economic affairs in general and the Banking and Financial Sector in particular. We look forward to working with him as we endeavor to deliver customer driven financial solutions and consequently, wealth for all stakeholders." 

Dr. Mwanza thanked Mr. Ndhlovu for his outstanding service to the Bank in the last 19 years and for actively participating in the selection of the new Managing Director. 

By Order of the Board 
Cuthbert Tembo
Company Secretary