As Barclays's MENA CEO – a role he took on in May 2009 – Vitalo’s responsibilities in the region included: wealth management, infrastructure, retail and business banking and corporate and investment banking. His previous roles at the firm include CEO of Absa Capital, the pan-African investment bank, as well as chief operating officer of global markets and COO of emerging markets at Barclays Capital.

He joined Barclays in 2002 from Credit Suisse First Boston, where he held senior posts in London and New York. Earlier, he worked at Gleacher & Co and Morgan Stanley & Co in mergers and acquisitions and merchant banking, respectively.

Atlas’s strategy is to become “Africa's leading financial services group,” providing capital, liquidity and funding to the banking industry in sub-Saharan Africa, the firm said. In directing this, Vitalo will lead the group executive committee, which is comprised of Doug Munatsi, CEO of BancABC, and Jyrki Koskelo, Atlas' head of strategy.

Meanwhile, the firm has signed a Memorandum of Understanding with the Government of Rwanda to pursue the privatisation of BRD - the commercial arm of the Development Bank of Rwanda. BRD is “at the forefront of economic development in Rwanda,” the firm said. If completed, the transaction would represent Atlas' first foray into East Africa, it said. 

Atlas Mara was formed by Bob Diamond, founder of Atlas Merchant Capital, and Ashish Thakkar, founder of Mara Group, in December 2013.

“The retreat of European financial institutions to their home territories due to the sovereign debt crisis and the Basel III regulatory framework has restricted the flow of capital at a critical time for growth in Africa,” Atlas said.

“This situation presents opportunities for Atlas Mara to create a financial institution that provides leadership, liquidity, access to investors, product innovation, and technology to support economic growth and strengthen financial systems in Africa.”