Managing Director of the Universal Merchant Bank (UMB) Nilla Serlomey has resigned, less than two years into her tenure.
She has been replaced by a former Finance Director at GCB Bank limited, John Awuah.
Reasons for her resignation remain unclear however; a statement from the bank says she will now serve as an advisor in the bank’s quest to go international.
Nilla was appointed to head the bank in late December 2013 after UMB, then Merchant bank, was acquired by an equity firm Fortiz Equity.
She took over the helm of affairs at a time the bank had serious financial, operational and reputational challenges.
During her short stint with the bank Nilla restructured the bank’s credit wing which was the main cause of its challenges years back.
She is also credited with changing the face of the bank as well spearheading the bank’s expansion drive.
Some workers of the bank were not happy about the situation and have therefore petitioned the Board of Directors over the issue.