Robert Le Hunte Heads HFC Bank

The Reconstituted board of the bank has appointed Robert Le-hunte, a Director of Republic Bank in-charge of Africa operations as the substantive Managing Director (MD).

The reconstituted board of the bank, which is currently made up of 9 members, appointed Prof Joshua Alabi, Vice Chancellor of UPS, as its new board chairman.

Prior to the reconstitution, Mr Asafo-Adjei was announced as Executive Director on Thursday, April 24, 2015 during the AGM of the bank.

He even told the media in an interview: 'I feel delighted and I feel my hard work has been rewarded and that am going to continue the good works of Mr. Akuffo going forward.

Before Mr Le-Hunte's advent to Ghana, following the acquisition of some shares in HFC bank, he was the General Manager responsible for Planning and Financial Control at Republic Bank in Trinidad and Tobago.

He holds an economics degree from the University of Ontario, Canada; an MBA from the University of Manchester UK and an MSc in Accounting, from the University of West Indies.

Outgoing Managing Director of HFC bank, Asare Akuffo, had announced that the bank was working to establish a presence in some West African countries soon.

Meanwhile SSNIT, an institutional shareholder in HFC Bank, has indicated it has no intention of selling its shares in HFC Bank to Republic Bank.

It said it was working to take up the remaining 60 percent shares in HFC bank.

It is not known whether the vision of HFC will change with the appointment of the new MD by the reconstituted board and whether the business plan Mr Akuffo and his team put in place will continue.

Though the largest institutional shareholder in HFC Bank, Republic Bank of Trinidad and Tobago, at a press conference had ruled out a rebranding the bank, analysts have indicated  otherwise, saying it is very likely in the not-too-distant future.