can confirm that Mr Asante K Berko has been appointed the Managing Director (MD) of Ghana’s only refinery, Tema Oil Refinery (TOR).

Asante Berko replaces Isaac Osei who resigned from his position as MD of TOR in the embers of December 2019.

Following Isaac Osei’s exit, Herbert Ato Morrison was appointed to act until a substantive MD was appointed.

Asante Berko, before his appointment, was the Executive Director of Goldman Sachs International in London.

He was also the Debt Capital Markets and Structured Assets Solutions of Barclays Capital/Absa Capital Johannesburg, SA. from June 2008 to June 2014.

He was responsible for the creation of Structured Asset Solutions Group that focuses on de-risking Absa Bank Balance Sheet and bespoke high margin esoteric trade for clients.

Between July 2005 and March 2008, when he was the Vice President of Credit-Suisse, Assets Finance, 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 (CS) for a structured settlements finance company.

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

Asante Berko was also the Vice President and Portfolio Manager of SunTrust Robinson-Humphrey, Debt Capital Markets-CDO Group, Atlanta, from June 2004 to July 2005. He co-managed a $500 million portfolio that invested in mezzanine tranches of both cash and synthetic CDO transactions.

From September 2000 to June 2004, Mr. Berko was a Manager at Ernst & Young where he was in charge of Asset Finance Solutions/ Leasing Group in San Francisco.

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

Our checks indicate that the new TOR MD met the Board of Directors of TOR last Friday and yesterday, Monday.

An official statement to that effect is expected to be issued soon.


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