Phillip Madinga, a well-known banking guru, is now FMB Group General Manager responsible for Corporate and Commercial Banking effective February 10, 2016, according to an official statement from the bank.
FMB says, Madinga, who boasts of over 22 years banking experience having worked for various financial institutions at senior management level, is the ideal candidate to take the business strategy of the bank forward.
Madinga holds an MBA, Bachelor of Business Management and Administration (Honours) and a Bachelor of Social Science (Economics).
Madinga has also recently completed an Executive Development Programme with the University of Stellenbosch Business School.
Towards the end of 2015, Madinga resigned from his position as Managing Director of FDH bank, the new majority shareholder in previously government owned Malawi Savings Bank. Both FDH and Madinga have not come in the open to disclose the reason behind Madinga’s resignation barely two years after his appointment to the position.
Madinga previously served as Head of Corporate Banking at Ecobank before joining Standard Bank Malawi Limited as Director of Corporate and Investment Banking.