The board of ADB has indicated it will give the incoming MD of the bank, Daniel Asiedu, the free hand to operate, a highly placed source has told Joy Business.
There have been fears Mr. Asiedu will be faced with some serious government interference thatmight make it difficult for him to bring about the expected transformation.
According to sources the board is even willing to allow Mr. Asiedu to bring in some personnel to support the bank’s executive team and to help him achieve his strategic vision for the bank.
The source adds that the board’s stance has been influenced by members’ belief that giving Mr Asiedu the free rein will expedite ADB’s transition from a state bank to a private entity if its IPO goes through.
Most state banks face challenges dealing with government interference.
If the assurance by the ADB board is anything to go by, then a lot of will be expected from the new MD, especially that the board had to drop some big names on a shortlist of potential MDs to settle on Mr Asiedu.
The board settled on Mr. Asiedu because he was seen as a neutral person who could bring together all the perceived factions at the bank.
