Nouvobanq bids farewell to outgoing chief executive |01 August 2022

(L to r) New CEO Christophe Edmond, Chairman Yakub and outgoing CEO Ahmad Saeed

 • Welcomes the new one

The board of the Seychelles International Mercantile Banking Company, Nouvobanq, has thanked the outgoing chief executive, Ahmad Saeed, for his 32 years of service and commended him for leaving the bank at its pinnacle.

Mr Saeed’s retirement was announced in April this year and took effect on June 30. The bank organised a ceremony at the Savoy Resort & Spa, Beau Vallon, last Friday, to bid him farewell.

Speaking at the event attended by the board members, management and the bank’s clients, the board’s chairperson, Abdul Gafoor Yakub, said under Mr Saeed’s leadership, Nouvobanq became the leading banking institution in Seychelles.

“He’s been widely dabbed as a pioneer of the local banking industry. His managerial experience enabled Nouvobanq to establish and even surpass unprecedented objectives and goals over the last 32 years,” said Mr Yakub.

Mr Saeed was part of the team that set up Nouvobanq and according to the chairman, he was leaving behind a very strong and stable institution.

“We had some very difficult situations, and he could sort out all of them in a quick and efficient manner. Today, Nouvobanq is very stable not just in terms of assets, but it has a very strong compliance unit that makes sure we do not overstep and that we are not investing in anything dubious,” said Mr Yakub.

Saeed, 69, told Seychelles NATION he had mixed feelings now that he has reached retirement age. Although he felt light, he was also sad, but happy to be leaving a strong bank behind.

He described his tenure as worthwhile albeit tough. “We were the last to enter the market and at the time, big banks like Barclays were already well-established. People had doubts about a new bank, especially since they said the public sector was not performing. But we removed those negative thoughts and today our success speaks for itself as we are the largest bank in Seychelles and we are proud,” said Mr Saeed.

He said the bank’s strength has been its workforce. Mr Saeed described his team as a gem and thanked them for their support over the three decades.

“As long as they are there nobody will touch our bank and Nouvobanq will continue to flourish under the leadership of the new CEO, and I am sure he will take it to new heights,” he concluded.

His successor, Christophe Edmond, has taken his new post since July 1. Mr Edmond, who has over twenty years in the banking sector, has also served as First Deputy Governor of the Central Bank of Seychelles for a decade.

With his arrival, Nouvobanq has invested into a new system. According to the chairperson, the want to become fully digitalised so as to make work simpler and more efficient.

Mr Edmond said modernising the bank was his priority and he comes with all the skills acquired at the Central Bank.

He is taking over at a time where the world economy is slowing down but said he sees this as a great challenge.

“Despite what is happening worldwide, we observe a lot of things happening in Seychelles, for example a lot of activities in the tourism sector. We will continue to tap into these markets, look for new clients, make them happy, get more businesses, offer new services and products, and remain competitive in the market,” said Mr Edmond.

At Friday’s ceremony the guests, including the Minister for Finance, National Planning and Trade, toasted to Mr Saeed’s departure, wishing him happy retirement, and welcomed Mr Edmond into his new post.

Nouvobanq was founded in 1991 as a joint venture between the Government of Seychelles and Standard Chartered Bank. It now has four branches – two on the main island Mahé, as well as on Praslin and La Digue.

The accompanying photos show guests interacting during Friday’s ceremony.

Patsy Canaya