steven maseka 
The Board of Directors of I&M Bank (T) Limited is has announced the appointment of Mr. Madabhushi Soundararajan as the Board Chairman, with effect from 24th January 2024. Mr. Soundararajan was appointed to the Board of I&M Bank (T) Limited on 29th November 2023 as an Independent Non-Executive Director.This is prior to the approval of the Central Bank of Tanzania (BOT).
Mr. Soundararajan’s illustrious banking career spans about four decades, initially in India and the United States of America and then in Kenya from 1988.
He has held senior executive and leadership positions in Standard Chartered Financial Services as Assistant Director, Corporate Finance, Commercial Bank of Africa (now NCBA) as Director,Corporate Banking, CFC Financial Services (now SBG Securities) as its first Managing Director and CFC Bank as Managing Director before its acquisition by Stanbic Bank in 2008.
He is currently the Country Head of Meghraj Group of Companies in Kenya.
Mr. Soundararajan also serves on the Board of I&M Bank Kenya where he has been an Independent Non-Executive Director since 2009. He also sits on the boards of GA Insurance, GA Life Assurance, GA Insurance-Tanzania and Car & General (Kenya) Plc. He served on the board of Central Depository & Settlement Corporation (CDSC) for four years from 2004 to 2008.
Soundararajan holds a Master of Arts degree from Madras University, India and a Certificate in International Banking from New York University.
In December 2022,The Board of Directors of I&M Group PLC announced the appointment of Kihara Maina to the position of I&M Regional CEO effective January 2023.
The Group also announced the impending departure of Chris Low, the current Regional Director whose contract expires at the end of this year after a successful two-year engagement.
During his tenure, Low was able to establish key Group functions and alignment across the Group’s subsidiaries in Rwanda, Tanzania and Uganda as well as its Joint Venture in Mauritius, Bank One.
The transition offers continuity in the business as Maina takes over responsibilities previously handled by Low that were instrumental in setting up the foundation for the Group’s regional infrastructure that has been crucial in driving the Bank’s regional ambition, a role for which the Board has expressed its full gratitude.
