Sidian Bank Names New CEO as Chege Thumbi Retires After 9 Years

Sidian Bank has announced a leadership transition following the retirement of its Chief Executive Officer (CEO) and Managing Director, Chege Thumbi.

In a notice dated Friday, March 27, 2026, the bank said Thumbi will retire effective June 30, 2026, after serving in the role for nine years.

“The Board of Directors of Sidian Bank Limited announces the retirement of Mr. Chege Thumbi on 30th June 2026, upon attaining the retirement age, after serving as Chief Executive Officer for the past nine (9) years,” read part of the notice.

Chege Thumbi to Retire as Sidian Bank CEO After 9 Years

Thumbi leaves behind a distinguished banking career spanning over three decades.

During his tenure at Sidian Bank, the Bank credited him for overseeing significant transformation, including the expansion of trade finance, growth of the branch network, and strengthening of digital banking and foreign exchange income streams.

Under his leadership, the bank also enhanced its operational capabilities and customer experience, culminating in its elevation to a Tier II bank in September 2025.

The Board praised his leadership, noting that his vision and industry expertise had a lasting impact on the institution.

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John Okulo Appointed as New CEO

At the same time, Sidian Bank announced the appointment of John Okulo as the new Managing Director and CEO, effective May 1, 2026, subject to regulatory approval.

Okulo is a seasoned banking executive with over 28 years of experience across regional and international markets. He currently serves as Director of Corporate Banking at KCB Bank Kenya.

“The Board of Directors of Sidian Bank Limited is pleased to announce the appointment of Mr. John Okulo as the Managing Director & Chief Executive Officer,” the notice stated.

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He has previously held senior leadership roles at NCBA Bank, where he served as Group Director of Corporate Banking, and was the founding Managing Director of NC Bank Uganda.

Okulo has also worked with Stanbic Bank, Barclays Bank, Citibank, and Standard Chartered Bank.

He holds a Master of Science degree in Economics and is widely recognised for his expertise in corporate banking, risk management, and strategic leadership.

The Board expressed confidence that Okulo will steer Sidian Bank into its next phase of growth and transformation.

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