JAMES Hill, the managing director of Bank Windhoek, will leave the bank at the of March this year, the institution confirmed yesterday.
Koos Brandt, chairman of Capricorn Investment Holdings, the holding company of Bank Windhoek, said the fixed-term appointment of Hill as MD came to an end on June 30 last year, but due to the uncertainty arising from the possible Absa deal, the succession process was delayed.
"Hill has however agreed to remain in the position during the process of recruiting his successor," Brandt said, adding the recruitment process for a new MD has started. As soon as a formal appointment has been made, an announcement will be issued in this regard, Brandt said in a statement.
"During Hill's tenure, the bank has grown its assets to over N$14 billion and net income after tax increased to N$248,4 million for the year ended June 30 2010. "As Bank Windhoek moves into a new era there is no doubt that James leaves the bank in a very strong position with proven potential, solid growth, capable and competent management and staff, a larger client base and an excellent track record of consistent performance," Brandt said, thanking Hill for his contribution.
On his part, Hill said: "Change is, and always will be part of our lives and I am fortunate to have spent six years at Bank Windhoek. I am proud of the part that I have played in growing Bank Windhoek into the second largest bank in Namibia and into one of the most respected brands in Namibia."
His plans for the future are taking shape, "but right now I am working hard to ensure that the bank is operating well and our clients continue to receive excellent service," said Hill.