The Board of Directors of HFC Bank has elected Muriel Susan Edusei as Chairperson of the Board with effect from 4th December, 2014. 

She replaces Nana Agyei Duku who retired on 27th November, 2014.

A press release issued by the Board said Mrs. Edusei is an independent member in accordance with the rules and regulations of the Securities and Exchange Commission for companies listed on the Ghana Stock Exchange. She was first appointed to the HFC Board in April 2012.

She has more than 20 years working experience in the Banking Industry, most of which was at the National Investment Bank (NIB).  She held various positions such as Head of Credit Control, Head of External Loan Department and Head of Foreign Operations and retired as Deputy Chief Manager in 1995.

She joined Oikocredit International, a development finance institution, with headquarters in the Netherlands as the Regional Manager for Anglophone West Africa and established its Regional Office to serve Ghana, the Gambia and Sierra Leone. She retired from Oikocredit in December, 2010.

A product of Wesley Girls’ High School, Mrs Edusei obtained a Bsc. Administration (Accounting option) degree in 1975 and an MBA (Finance) degree in 1989 from the School of Administration, University of Ghana now University of Ghana Business School. 

Mrs. Edusei is a Hubert H. Humphrey fellow. During her Humphrey year, she undertook an MBA Finance and Banking non-degree awarding course at Boston University.  She did her attachment in banking supervision at the Federal Reserve Bank of Boston and also at the Chemical Bank in New York.

Meanwhile Nana Agyei Duku, the recently retired Board Chairman, has expressed gratitude to the Bank especially to Mrs Baeta Ansah and Mr Asare Akuffo, former and current MDs respectively for their support over the years.

He however noted in his retirement letter, that it was unfortunate he was leaving at a time when HFC Bank and Republic Bank of Trinidad and Tobago (RBTT) had unresolved issues.

The letter said Nana Agyei Duku hinted of his retirement about two years ago but RBTT prevailed on him to rescind his decision till a later date to avoid any wrong signal from the market. 

According to the letter, the Board made similar appeals last year up to the first half of this year. But it added, “the time for my retirement has now come and I humbly tender my letter of retirement effective from 27 November, 2014”.