A statement issued by UMB Bank and copied to the Ghana News Agency on Monday, said Mr Cain would be responsible for the strategic direction and growth of the Personal Banking, Private Banking and Business Banking operations of the Bank.

The statement said Mr Cain would also drive the expansion of the bank’s transaction and electronic banking channels. It said UMB Bank was currently securing the necessary regulatory approvals to confirm Mr Cain s appointment. It noted that Mr Cain had over 30 years of international consulting, banking and general management experience in more than 15 countries and had an enviable track record of executing successful SME and commercial banking initiatives.

Chief Executive Officer of UMB Bank, Mr John Awuah, stated that retail banking was a key pillar in the bank’s five year transformation strategy and that Mr Cain’s depth of experience and exposure was an important addition to the UMB team. “Mr Cain is a consummate banking professional with extensive experience in Europe, the Middle East and Africa and we are fortunate that he will be contributing his significant breadth and depth of skills, experience and talent to the UMB family," Mr Awuah added.

According to Mr Awuah, Mr Cain’s appointment was also a “strong indication of UMB’s intent to execute in accordance with international standards and benchmarks. ”To him, Mr Cain “brings a global perspective that can be harnessed to enhance UMB’s execution and innovation plans as a former consultant for the East African Development Bank in Uganda”.

Mr Cain has completed a three year International Finance Corporation (IFC) sponsored project in Kenya where he served as the Resident Advisor to Bank of Africa and assisted in developing their SME business in Kenya, Uganda and Tanzania.

Mr Cain was also a member of the IFC team that carried out the diagnostic review of Fidelity Bank and Keystone Bank in Lagos, Nigeria, and was also the Head of Wholesale Banking of Doha Bank in Qatar and he was credited with setting up the very successful SME unit within Doha Bank.

Mr Cain stated: “I am very excited to be joining an outstanding financial institution such as UMB. I am also eager to work with the talented team at the Bank to support the growth ambitions of our clients, especially those in the SME sector.”

UMB is a full-service financial institution specialising in customised banking products and services and recognised for its entrepreneurial approach, innovative use of technology, and distinctive banking solutions.

Opened on March 15, 1972 UMB currently has 31 branches, one UMB Centre for Businesses and a vast network of ATMs.