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29.06.2005 Business & Finance

Asare Akuffo named MD of HFC Bank


Accra, June 29, GNA - Mr Asare Akuffo was on Wednesday appointed Managing Director of HFC Bank.

A statement from the Bank said he would take over officially on July 1. It said Mr Akuffo was a key member of the pioneer management team of the Home Finance Company, where he handled the finance of the Company for 14 years from inception in 1990.

Mr Akuffo became the Finance Director in 1995 and subsequently Deputy Managing Director in 2003, the year HFC converted to a bank. Mr Akuffo for 11 years also oversaw the investment-banking arm of the Company, which manages three unit trusts, the HFC Unit Trust, HFC REIT and HFC Equity Fund, with assets of over 250 billion cedis. "He has taken office at a time that the Bank is geared up to grow all aspects of its universal banking business, that is, mortgage banking, commercial banking and investment banking," the statement said.