UK-based Ghana Worldwide Financial institution, GhIB, has sacked its chief govt officer, Dean Adansi.
The GhIB board, which is managed by the Ghanaian authorities via the Financial institution of Ghana, notified him simply final Sunday that his providers had been not wanted. The subsequent day, an official announcement was made to employees.
The board has described Adansi’s removing as a “presumed resignation”, however his substitute has already been appointed and welcomed to the publish by Ian Oulukwao Greenstreet, an funding banker and worldwide skilled in monetary threat administration.
In his official communication saying the brand new CEO, the Governor of the Financial institution of Ghana, Dr. Johnson Asiamah, who chairs the GhIB Board of Administrators, stated how happy he was that “Mr. Ian Greenstreet has agreed to function Chief Government Officer of the Ghana Worldwide Financial institution”, topic to regulatory approval.
The corporate’s outgoing CEO, who had held the place for about seven and a half years, was silent within the official announcement.
GhIB was established in 1959, two years after Ghana’s independence, because the London department of the Ghana Business Financial institution.
Financial institution of Ghana holds over 50% of the shares, with the rest held by Ghanaian monetary establishments reminiscent of GCB Financial institution, SSNIT, and ADB.
The financial institution briefly got here near chapter and was positioned on UK regulators’ regulatory watchlist in 2016.
Mr Adansi, who was appointed CEO in 2019 and was accredited by the UK Prudential Regulation Authority (PRA) and the Monetary Conduct Authority (FCA) as chief govt below the Senior Administration and Certification Regime (SMCR), confirmed his speedy and sudden resignation in an e mail to senior employees, noting what seemed to be a stunning turnaround.
In his farewell deal with, Adansi highlighted the turnaround of the GhIB throughout his tenure, Myjoyonline has seen.
“We elevated our commerce income by greater than 300% and maintained a clear mortgage ebook with robust LCR and CAR. We achieved our aim of $100 million in income in 5 years. We look ahead to doubling the dimensions of our enterprise in one other 5 years whereas carefully managing our modest capital.”
He additionally praised front-line employees “for getting us to the purpose of restoration” and stated the board had accredited a method targeted on non-interest earnings, capital diversification and modernization.
PRA and FCA compliance questions
There have been questions in governance and regulatory circles about whether or not the transfer complies with the procedural necessities below the UK’s PRA/FCA Senior Managers Regime, which governs the appointment and departure of senior financial institution executives.
The principles require formal notification and regulatory approval for modifications in senior administration.
As of 4:30 a.m. on Thursday, June 11, 2026, the financial institution’s web site nonetheless listed Mr. Adansi as GhIB’s CEO, suggesting that the formal submitting has not but been up to date.
The financial institution has undergone a regulatory redress course of in recent times, together with a interval of voluntary enterprise restrictions and a piece 166 evaluation initiated by the UK regulator. The part provides powers to the Monetary Conduct Authority and the Prudential Regulation Authority to require regulated monetary corporations to nominate impartial third events to arrange experiences on sure facets of their enterprise.
Some trade observers say the change in management might invite additional scrutiny, given the company’s current regulatory historical past.
