- J.P. Morgan aims to enhance its presence in Sub-Saharan Africa with the establishment of representative offices in Nairobi and Abidjan
- Montet brings over 20 years of banking experience and has held significant roles at institutions such as CBK, Barclays Bank of Kenya, and Absa Bank Kenya
- The appointment aligns with J.P. Morgan's strategy to expand its footprint in the African market and strengthen operations in Kenya
J.P. Morgan, the world’s largest bank, has named former Central Bank of Kenya (CBK) executive Sailepu Montet as its new country manager for Kenya.
This move is part of the bank’s ongoing expansion in Sub-Saharan Africa. With the establishment of representative offices in Nairobi and Abidjan, J.P. Morgan aims to strengthen its presence in the region.
Banking expertise spanning two decades
Montet brings over 20 years of experience in the banking sector, having worked in both public and private institutions.
His latest role was at the CBK, where he served as Deputy Director of Financial Markets and Head of Reserves Management.
In this position, he oversaw the management of the country’s foreign reserves, playing a crucial role in safeguarding Kenya’s financial stability.
Montet’s career in banking also includes significant roles in prominent institutions such as Barclays Bank of Kenya and Absa Bank Kenya.
His tenure at Absa Bank saw him hold the position of Vice President and Head of Capital and Liquidity Management from February 2020 to June 2021.
Prior to this, he served as Head of Capital and Liquidity Management at Barclays Bank of Kenya, further solidifying his expertise in financial markets.
J.P. Morgan’s commitment to Africa
The appointment of Montet comes as J.P. Morgan seeks to enhance its footprint in the African market.
With his extensive background, Montet is expected to drive the bank’s operations in Kenya, particularly in managing relationships with key clients and navigating the complexities of financial markets in the region.
READ: Reason CEO of world's richest bank is visiting Kenya in October
The Central Bank of Kenya (CBK) granted permission to JPMorgan Chase Bank N.A. to open a representative office in Kenya in accordance with Section 43 of Kenya's Banking Act.
Although representative offices of foreign banks in Kenya are limited in their operations—they cannot directly engage in banking services—they act as crucial links between their parent companies and local affiliates.
In this case, JPMorgan Chase Bank N.A.'s Kenya office will serve as a marketing and liaison hub, paving the way for greater business and financial collaboration.