TOR gets new chief executive officer Featured

By Nana Yaw Dwamena January 14, 2020 1152 60 comments

The Daily Statesman can confirm that Asante K Berko has been appointed the new chief executive officer of the Tema Oil Refinery.

The paper earlier reported, rather mistakenly, that he had been appointed to take over from Edwin Provencal as “the new chief executive officer of the Bulk Oil Storage and Transportation Company Limited”.

Mr Berko replaces Isaac Osei, who resigned getting to the end of last year.

The Daily Statesman is reliably informed that the Council of State has approved the President’s nomination, and the board of TOR also did the same yesterday.

Education

The new TOR CEO holds a diploma in computer programming and data processing from the London College (1992) and subsequently obtained a BSc (Econ) with honours in economics and accounting from the University of Hull, UK, in 1995.

In 1996 he obtained a certificate in econometrics and regression analysis after a one-year programme with York University in Ontario, Canada.

He proceeded to take an MA in economics from Tufts University in Medford, Massachusetts, in 1997.

Career

Mr Berko, before his appointment, was an executive director of Goldman Sachs International in London.

He was also the head of debt (capital markets) and structured assets solutions with Barclays Capital/Absa Capital in Johannesburg, South Africa, from June 2008 to June 2014. He was responsible for creating the Structured Asset Solutions Group that focuses on de-risking the Absa Bank balance sheet and bespoke high-margin esoteric trades for clients.

Between July 2005 and March 2008, when he was vice-president in charge of assets finance with Credit-Suisse, New York, he was responsible for structuring student loans and other esoteric assets such as films, aircraft, rail-car leases, small business loans (both real estate and non-real estate related assets), middle-market loans, drug royalties and insurance.

He again successfully secured mezzanine and equity funding from the Special Opportunities Fund of Credit-Suisse for a structured settlements finance company.

Mr Berko was also responsible for analysing and making pricing and structural recommendations to desk on distressed structured investment vehicles.

The new TOR head was vice-president and portfolio manager in charge of debt (capital markets) with SunTrust Robinson Humphrey, CDO Group of Atlanta, Georgia, from June 2004 to July 2005. He co-managed a US$500 million portfolio that invested in mezzanine tranches of both cash and synthetic collateralised debt obligation transactions.

From September 2000 to June 2004, Mr Berko was a manager at Ernst & Young in charge of asset finance solutions (leasing group) in San Francisco.

Previously, he was a senior consultant at Ernst & Young in New York between April 1998 and September 2000.

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Last modified on Tuesday, 14 January 2020 16:54

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