Some of the officials affected by the action include, the head of Marketing Adams Sulley, chief risk officer Merchandani Sanjay, head of asset finance Wilson Kwesi Abedu, Procurement officer Owusu Ansah Nana Akua, head of Asset and Liability manager Zigah John Kwame Mensah among other top guns of the bank.
A dismissal letter given to them on, November 11 2015, indicates that the action is of immediate effect.
The letter, however, noted that the move is as a result of some organisational restructuring being undertaken by the financial institution.
Some of the affected persons have already started packing out, Starr sources noted.
Meanwhile, the bank has in a statement noted that the retrenchment is aimed at ensuring that it remains focused and efficient in the banking industry.
Below are details of the statement
ADB UNDERGOES RESTRUCTURING
The Agricultural Development Bank (ADB) as part of its plans to review its operations based on a thorough evaluation of the company’s structure and strategic objectives has implemented a new management organogram which has led to the merger and re-alignment of certain managerial positions in the bank.
As a result of these changes the initial phase has seen the displacement of fourteen (14) Management staff who have been exited as per the policy of the bank and within the acceptable labour laws of the country. Affected workers have been compensated with packages.
According to the Management of the bank, the decision was taken earlier this year at a Management retreat in Akosombo involving all various stakeholders and was given approval by the Board for implementation, since it is aimed at ensuring growth, strength and sustainability of the bank moving forward.”
“We are in a very competitive market and there is the need to re-align our operations and strategic objectives to remain on top as one of the best performing indigenous banks in the country.”
Also in another development some staff of the bank who engaged in various acts of operational indiscipline in the discharge of their duties has been dismissed for acts that are in contravention of the Bank’s policies and procedures.
The Management of the bank wishes to assure all its stakeholders, customers and general public of its commitment towards working to maintain high disciplined standards and efficiency to ensure that the bank continues to serve the Ghanaian public.
ISSUED BY MARKETING & COMMUNICATIONS
AGRICULTURAL DVELOPMENT BANK LIMITED
