FDH Bank has appointed former Governor of the Reserve Bank of Malawi (RBM), Dr. Ellias Ngalande as managing director effective January 2, 2020.
He will lead the implementation of FDH Bank’s strategy championing innovation, digital solutions, financial inclusion and superior customer service delivery.
Ngalande is a seasoned and highly qualified professional with over 30 years experience working in strategic management positions in the public and private sector locally complemented with international exposure.
He served as general manager for ADMARC Investment Holding Company, Secretary to Treasury at Ministry of Finance, RBM Deputy Governor and Governor and Executive Director of Microeconomic and Financial Management Institute of Eastern and Southern Africa.
He holds a PhD in Economics and a Master’s Degree in Political Economy from Boston University in USA, a Master’s of Science in development Economics from University of Strathclyde in Scotland and a Bachelor’s of Social Science Degree from University of Malawi, the Chancellor College.
FDH Bank’s headquarters and main branch of are located in Umoyo House, at 8 Victoria Avenue North.
The bank was founded in 2008, as a subsidiary of FDH Financial Holdings Limited, a financial holding group, formed in 2007 to replace First Discount House Limited (FDH).
In July 2015, FDH Financial Holdings Limited successfully acquired 75 percent ownership of Malawi Savings Bank, together with its subsidiary MSB Forex Bureau Limited.
In July 2016, FDH Financial Holdings Limited completed the merger of FDH Bank Limited and Malawi Savings Bank Limited (MSB).
The merged bank adopted the name FDH Bank Limited. The merger of the two banks culminated in the merger of FDH Money Bureau Limited and MSB Forex Bureau Limited. The merged entity adopted the name FDH Money Bureau Limited.