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When Dr Martin Aliker died on Monday April 15, 2024, aged 95, he had lived a long illustrious life during which he sported many hats of responsibilities; one of them was serving as Board Chairman of Stanbic Bank Uganda between 2002 and 2008.
In this tribute, three former Chief Executives of the bank share their reflections on a man that many people in the corporate governance world regarded as ‘chairman of chairmen’ having sat on or chaired nearly 40 corporate boards during his active years.
‘Icon of corporate governance,’ says Patrick Mweheire, former Stanbic Bank Chief Executive—2014 to 2020.
Upon hearing news of Dr. Aliker’s passing, my immediate thoughts were- what a loss of an exceptional professional with an enormous sense of humour, a giant in corporate governance who set the standard for many leaders of my generation.
Even in his nineties, with a 30-to-40-year disparity of experience with my generation of leaders – he was able to effectively support many of us, through mentorship.
Although he had retired much earlier by the time I became Chief Executive of the bank, his governance and policy footprints put in place during his time as Board Chairman, continued to serve as important guardrails.
Even in retirement, he retained a remarkable connection and loyalty to the Stanbic brand and would attend many of our events whenever possible. The last one he attended was in May last year as we bid farewell to three of our former board directors including, Japheth Katto and Prof. Patrick Mangheni, both of whom have served as Bank Board Chairmen.
I remember during my time as Chief Executive, he would remind me to send him our corporate calendars and diaries at the start of every year—he did that once or twice after which I made sure we availed them to him proactively.
As our first Board Chair post the Uganda Commercial Bank (“UCB”) acquisition, he worked tirelessly with multiple stakeholders to shield the brand from one of the most perennial perception issues among our stakeholders, whether we were a local or a foreign bank which was a big point of debate around the acquisition of UCB in 2002.
In terms of corporate governance, Stanbic Bank has always been a reference for best practice in the country and we owe much of that to pioneering Board Chairmen like Dr Aliker who helped create the appreciation of transforming from being a local entity to a multinational business that had to set and run on international standards. It took adept skill and patience.
I must also point out that Dr. Aliker truly cared about people; on a personal and professional level, we used to have regular check-ins—he wanted to ensure that as leaders, we had the support needed to keep the bank on the right track. I don’t remember him ever raising his voice, yet he managed to firmly put his points across.
I will miss his great sense of humour. Research has shown that humour is indeed a sign of great intelligence and Dr Aliker had plenty of that—he never took himself too seriously, and for someone who at some point served on multiple boards; it’s fair to say that humour kept him sane—at least it does, in my case.
No wonder that his house in Kololo was just across from that of the former Governor, the Late Prof. Tumusiime Mutebile—both men had a great sense of humour and got along quite well, to the extent that at times, as Board Chair, he would simply walk over to his neighbor, the governor and the two would discuss and easily resolve a lot of industry issues, over a drink.
One can’t reflect on Dr. Aliker’s remarkable life without a thought on his dear wife Camille, who was his bedrock for more than six decades—she was a good partner, a friend to many of his friends and a key factor behind his happiness and success as a man.
I join his family, friends, and colleagues in thanking God for his precious life and the fond memories he left us with. May he rest in eternal peace.
Aliker was East Africa’s finest gentleman—Phillip Odera, Stanbic Bank Chief Executive 2007-2014.
In 2007, when I was appointed Chief Executive of Stanbic Bank Uganda, Dr Aliker was my chairman.
He patiently but professionally guided me through the intricacies of managing boardroom activities accompanied by a healthy dose of wit and charisma.
The first time to meet him, I was a high school student in Nairobi where he was running a dental practice—the first by an African dentist. Prior to that, I just assumed that Africans had no interest in dentistry.
Dr Aliker was a regal and professional looking man who carried himself with an air of importance that made me proud of being an African man.
Our paths would cross again much later, when I married a wonderful Ugandan lady, and Dr Martin Aliker assured me how I had married ‘good stock’—a witty quip only he would say.
As Stanbic Bank Chief Executive, I got to spend more time with the “Chairman” as I called him and sought his wise counsel on numerous occasions over a glass of appropriate libations, occasionally interspersed with Cuban influence.
He was a most fascinating man who would regale one and all with amazing stories of his adventures and would continually challenge us to live life to the fullest, no matter the circumstances.
His charm and wit aside, Dr Aliker was a man who set high standards and expected no less from those who were privileged to be part of his circle.
I personally learned a lot from him and join my Ugandan friends in bidding farewell to one of East Africa’s finest gentlemen. May the Chairman’s soul rest in eternal peace.
Aliker was a consummate diplomat— Kitili Mbathi Stanbic Bank Chief Executive, 2001-2007
When I was posted to Uganda in 2001 as the Managing Director of Stanbic Bank Uganda, I was warmly welcomed by Dr and Mrs. Aliker who were family friends from their days in Kenya—they hosted and introduced me to the movers and shakers of Kampala.
At the time, Stanbic Uganda was a successful corporate bank with two branches in Kampala.
Then in 2002, Stanbic acquired the majority stake in Uganda Commercial Bank (UCB) which was the largest bank in Uganda with 69 branches across the country.
The deal elicited public debate with people asking questions such as, “how can the ‘people’s own bank’ be taken over by a small bank like Stanbic?”
Besides the banking skills which Standard Bank brought to the table, we needed expertise with knowledge of the local context to help navigate the transition and Dr. Aliker, a corporate titan with the skills, experience and gravitas was the man we needed to be our Board Chairman.
At the time, Dr. Aliker was one of the best-known figures in the Ugandan corporate governance world and already sat on several local and international boards, so he was initially reluctant to take on the role of Chairman of the Board of Stanbic Uganda because as he said, “I am not a banker.”
He finally agreed to take on the role and carried it out with great dedication. He quickly learned the critical facets of banking and was an invaluable addition to the Board.
A distinguished gentleman, he chaired the Board in a dignified manner, was a stickler for time who ensured that the Board Meetings always started on time.
Dr Aliker was an engaging Chairman who encouraged lively debates but would always try to seek consensus on matters before the Board. He was the consummate diplomat who was able to politely yet firmly navigate through any contentious issues and ensured good relations with government and the central bank.
He was able to bring insights which were critical for a bank such as ours which occupied a critical role in the country’s economy.
Despite his serious responsibilities, Dr Aliker never took himself too seriously and would regularly bring humour to meetings dealing with weighty issues—he was a great host, and we could be sure of delightful moments whenever he hosted events.
Under Dr. Aliker’s chairmanship, the bank grew from a hodge-podge of disconnected branches spread throughout the country to a networked, customer-centric unit which changed the experience of banking in Uganda.
It is also under his chairmanship that the bank was listed on the Uganda Securities Exchange (USE) in a landmark public issue in 2007 which gave thousands of Ugandans their first opportunity to own shares in a public company.
Dr. Aliker will be greatly missed as an exceptional gentleman with the diplomatic skills to navigate the corporate world.
May his soul rest in eternal peace.