Samuel Matsekete takes over Old Mutual Zimbabwe Leadership

Harare – First Capital Bank Managing Director Samuel Matsekete has been appointed as the Group CEO-designate of Old Mutual Zimbabwe Limited (OMZIL). In a press statement released on 8 November 2019, available here, Old Mutual announced that Matsekete will commence service on 1 January 2020 following the retirement of the current Group CEO, Jonas Mushosho at the end of 2019.

Samuel Matsekete, who took over from George Guvamatanga as Barclays MD in 2017 is credited for successfully leading the transition of First Capital Bank from being part of the Barclays Group. FMB Capital Holdings Holdings Group chief finance officer Ciaran Mcsharry will take over from Samuel Matsekete on an interim basis. Before joining FMB Capital Holdings, Mcsharry worked for 9 years at Barclays UK. The statement confirms that Sam Matsekete is no stranger to Old Mutual as he was part of the team that set up Old Mutual Asset Managers, now OMIG.

First Capital Bank Zimbabwe has confirmed the resignation of Samuel Matsekete. Analysts are saying have said Sam’s move “A gain for Old Mutual Zimbabwe and a loss to First Capital Bank” was the statement coming from most financial analysts in response to Sam’s resignation from First Capital and subsequent appointment at Old Mutual Zimbabwe.

According to the Old Mutual statement, Sam is a qualified Chartered Accountant and an associate of the Institute of Bankers, Zimbabwe. He completed an executive leadership development program run for Barclays PLC by Duke University in London and holds a Master of Business Leadership degree from the University of South Africa.