Former Reserve Bank of Malawi (RBM) director of bank supervision Noel Mkulichi has been appointed Managing Director for Malawi Stock Exchange (MSE)-listed FDH bank.

A statement published by MSE recently, signed by the bank’s board chairperson Charity Mseka, indicates that Mkuluchi assumed the role on January 1 2022.

The development follows the retirement of Elias Ngalande from the position in June last year following a year-long reign.

Until his appointment, Mkulichi has been operating as chairperson of FDH Financial Holdings Limited for the past three years.

“Before joining the FDH Group as a director, he served in various capacities with Reserve Bank of Malawi including as a

Director responsible for Bank Supervision, where he was responsible for, among others, formulating and implementing strategies that ensure the safety and soundness of banking institutions in Malawi. He has also served on boards of various companies in this country,” the statement reads.

General Secretary of the Minority Shareholders of Listed Companies Frank Harawa said they were happy with the appointment and expected Mkulichi to grow the business.

“It is a good appointment because he was already working with the bank and the holding company and we believe he will produce the desired results that will translate in huge dividends for us, as shareholders,” Harawa said

Mkulichi has over 26 years’ professional experience in financial regulation, financial planning and analysis, strategic planning, treasury management and risk management.

He holds a Master of Banking and Finance Degree from the University of Wales, Bangor. He is also a graduate of the University of Malawi, where he obtained a Bachelor’s Degree in Social Science.

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