UK-based Ghana International Bank “GhIB”, has had its Chief Executive Officer, Dean Adansi, relieved of his duties.

The GhIB Board, controlled by the Government of Ghana through the Bank of Ghana, told him only last Sunday that his services were no longer needed. An official announcement to staff followed the next day.

While the Board frames his dismissal as Adansi having ‘assumed leave’, his replacement- Ian Owulakwao Greenstreet, an investment banker and international expert in financial risk management, has already been named and welcomed to the post.

Bank of Ghana Governor, Dr Johnson Asiama who chairs the GhIB Board, in official communications announcing the new CEO, noted how delighted he was “that Ian Greenstreet has agreed to become Chief Executive Officer of Ghana International Bank,” subject to regulatory approval.

The official communication was silent on the outgoing CEO who served in the capacity for about seven-and-a-half years.

GhIB was established in 1959 as the London branch of Ghana Commercial Bank, two years after Ghana’s independence.

Bank of Ghana holds more than 50% of shares, with the balance held by Ghanaian financial institutions, including GCB Bank, SSNIT, and ADB.

The bank was once on the brink of failure and placed on a regulatory watchlist by UK authorities in 2016.

Adansi, appointed CEO in 2019 and approved by the UK Prudential Regulation Authority "PRA" and Financial Conduct Authority “FCA” as Chief Executive under the Senior Managers & Certification Regime "SMCR", emailed senior staff confirming his immediate and sudden departure and referencing what appears to be a shocking turnaround.

In his parting note, seen by Myjoyonline, Adansi highlighted GhIB’s turnaround under his tenure.

“We grew trade revenues by over 300% and maintained a clean loan book with a strong LCR and CAR. We reached our goal of $100 million in revenues in five years and we’re looking forward to doubling the size of the business in another five years – while managing our modest capital closely.”

He also praised frontline staff “who have led us to the point of recovery” and said the board had approved a strategy focused on non-interest income, funding diversification and modernisation.

Questions over PRA and FCA compliance
Questions have been raised within governance and regulatory circles about whether the transition aligns with procedural requirements under the UK’s PRA/FCA Senior Managers Regime, which governs the appointment and departure of senior banking executives.

The rules require formal notifications and regulatory approvals for changes to senior management functions.

As at 4:30 am Thursday, June 11, 2026, the bank’s website still listed Mr Adansi as the CEO of GhIB, suggesting that formal filings were yet to be updated.

The bank has, in recent years, undergone regulatory remediation processes, including a period of voluntary business restrictions and a Section 166 review initiated by UK regulators, which section empowers the Financial Conduct Authority and the Prudential Regulation Authority to require a regulated financial firm to appoint an independent third party to produce a report on specific aspects of its business.

Some industry observers say the latest leadership change could attract further scrutiny given the institution’s recent regulatory history.