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Premchand Mungar appointed as new CEO of SBM

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Premchand Mungar appointed as new CEO of SBM
Image source: Defi Media - Premchand Mungar appointed as new CEO of SBM

After spending five years as Chief Executive Officer (CEO) at the state-owned MauBank, Premchand Mungar has been appointed as the CEO of SBM.

He will officially assume his duties from December 01.

Announcing the news, Defi Media said the new CEO brings more than 37 years of experience in the banking industry.

He has held key positions in commercial banking, offshore banking, development banking, and financial services in both Mauritius and abroad.

Anoop Nilamber left his position as CEO of SBM in January and was reassigned to SBM Holdings with new responsibilities.

Since then, Sanjaiye Rawoteea has been serving as the interim CEO.

Premchand Mungar has been a non-executive independent member of the board of directors of the Financial Services Commission Mauritius since 2017.

He holds a Master’s degree in Finance and Financial Law from the University of London and a Bachelor’s degree in Law from the University of Mauritius.

He is a qualified lawyer and has been a member of the Mauritius Law Society since 1995. The new CEO has previously worked at SBM as well.

Following Premchand Mungar’s departure from MauBank, several names are already being mentioned as potential replacements, including that of Vikash Peerun.

The latter is currently the CEO of another state-owned entity, the National Insurance Company (NIC). The official announcement of his replacement is expected to be made “very soon”.

Source: Defi Media

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