After seven years leading Standard Chartered Kenya (Stanchart), the country’s ninth-largest bank, Kariuki Ngari—a running enthusiast and champion of the Standard Chartered Nairobi Marathon—will retire as chief executive on April 16 after a 24-year career at the lender, the board said in a notice on Wednesday. Birju Sanghrajka has been appointed to succeed him.
Ngari, 58, has spent over three decades in banking, building a reputation as a career banker keen on building digital platforms and sustainability. He has led Standard Chartered Kenya at a time of significant change, expanding the bank’s digital platforms that now account for more than 90% of all customer transactions.
Ngari’s retirement comes as Kenya’s banking sector faces increasing competition from mobile lenders and digital-first fintechs, with traditional banks under pressure to innovate while managing costs. His departure marks the end of a period in which Standard Chartered Kenya strengthened its digital presence, launched Kenya’s first fully digital money market fund, setting a benchmark for corporate responsibility in the local banking industry.
Under his leadership, the bank rolled out several technology-led products, including SC Shilingi Funds, Kenya’s first fully digital money market fund platform, as part of a push to grow retail participation in the capital markets and modernise savings and investment products.
“Shareholders have benefited from strong and resilient financial performance over the period,” the board said. “Kariuki has also led the repositioning of Wealth and Retail Banking from being a traditional savings-focused segment to being a leading wealth-focused segment with world-class products.”
A career banker
Before returning to Nairobi to run the Stanchart, Ngari held senior regional and global roles within the Standard Chartered Group. He served as global head of retail distribution, based in Singapore, where he helped shape the bank’s retail banking strategy, and earlier as regional head of retail clients for Africa between 2013 and 2015.
His career also includes senior roles at Barclays Bank Kenya (now Absa), where he rose to become director of retail banking, giving him experience across Kenya’s competitive banking sector.
Ngari is the brain behind the Standard Chartered Nairobi Marathon, which has grown into one of the country’s most prominent corporate-backed sporting events. He has also pushed the bank to reduce its environmental footprint, with targets to cut plastic use and lower water and energy consumption as part of a broader sustainability agenda.
“Beyond financial performance, Kariuki has been at the forefront of the Bank’s sustainability and community impact agenda, advancing initiatives aligned with global ESG standards,” the board said. “Notably, participation in the marathon has increased 78%, resulting in fundraising for Futuremakers initiatives growing by 76% to a record KES 76 million ($589,375).”
Kariuki Ngari holds a bachelor’s degree in economics and sociology from the University of Nairobi and executive programmes from Saïd Business School at the University of Oxford, INSEAD in Singapore, and GIBS Business School in South Africa.
