First Bank of Nigeria’s head office, Lagos, Nigeria
FBN Holdings Plc recently announced major changes to its leadership team, effective January 1 2016.
Bello Maccido, pioneer Group CEO, FBN Holdings, is leaving his position to become pioneer Chairman of the newly-licensed FBN Merchant Bank Ltd, while Urum Kalu “UK” Eke, currently Executive Director, South, First Bank of Nigeria Ltd, replaces Maccido as Group Managing Director-designate, FBN Holdings Plc.
Other changes at First Bank will see the current Chairman, Ajibola Afonja, retire and Ibukun Awosika become the Chairman, First Bank of Nigeria Ltd.
Following a rigorous selection process driven by the board of FBN Holdings and supported by executive search firm Heidrick & Struggles, Adesola Adeduntan, current Executive Director and CFO, has been appointed Managing Director-designate, First Bank of Nigeria Ltd. Additionally, Gbenga Shobo, the current Executive Director, Lagos & West, has been appointed Deputy Managing Director-designate, First Bank of Nigeria Ltd.
These management changes come on the heels of the Group’s earlier notice of Bisi Onasanya’s retirement as Group Managing Director and CEO of First Bank of Nigeria Ltd. These decisions have been ratified by the Board of Directors, subject to all necessary regulatory approvals and all take effect from January 1, 2016.
In announcing the recent appointments, Oba Otudeko, Group Chairman, FBN Holdings, explained: “Following an exhaustive and competitive process, we are proud to announce these appointments. In reaching these decisions we are mindful of the imperatives for a more efficient group structure that will benefit the Group’s need to deploy systems which deepen efficiency while expanding revenue and returns on investment. We are confident that we have made the right choices in these appointees. In selecting our MD and DMD, we were particularly mindful to identify outstanding and top-notch professionals with complementary and mutually reinforcing skill set[s].”
“These appointments are a testament to the strength of our succession planning mechanisms and the caliber of candidates it produces. It also re-articulates our commitment to put our customers first with the confidence in the value that this new leadership team brings to bear on behalf of the Group, customers and employees, even as we strive to return greater value to shareholders,” he said.
Source: Home | First Bank of Nigeria
- Uber Partners First Bank to Offer Loans to Nigerian Drivers
- First Bank CEO calls on Nigeria to end FX trading restrictions and devalue Naira
- Is #Nigeria’s central bank governor Godwin #Emefiele being made a scape goat? Are low oil prices good for #Nigeria? #ABCView
- First Bank confirmed as PayPal’s official partner in Nigeria
- Nigeria’s four newest billionaires: Tony Elumelu, Cletus Ibeto, Benedict Peters, & Akanimo Udofia
- Letshego acquires AFB Ghana in second West African acquisition
- Eko Atlantic: Why Nigeria’s plans for a dream Eldorado city in Lagos are not radical enough (Video)
- Global X MSCI Nigeria ETF: Speculative multi-year play approaching attractive valuation
- Bargain Hunters Pounce as Nigeria Stocks Rise for Eighth Day
- Nigeria Deals Seen by Year-End as Equity Valuations Decline
- S&P to start rating more Nigerian and Kenyan companies: Konrad Reuss, MD, Sub-Saharan Africa, S&P
- Kenya sovereign debut opens path for Kenyan corporate Eurobonds: JPMorgan
- Africa’s Richest 2014 (Visualization)
- The 20 most valuable companies in Nigeria
- Fashion-conscious Lagosians switch to online shopping
- Nigerian central bank offers some relief to country’s banking sector
- How Nigeria’s banks are innovating
- Low debt, light payments add luster to Nigeria’s dollar bonds
- Blackstone and Black Rhino announce appointment of Lamido Sanusi, Emir of Kano and former Central Bank of Nigeria Governor, as Chairman of Black Rhino
- Now is the time to buy Sub-Saharan African stocks
- Is there hidden value in Nigeria’s Stanbic IBTC?
- MoneyGram reaches 25,000 locations across Africa: Herve Chomel, Vice President, MoneyGram Africa
- Jumia Nigeria partners with First Bank to introduce FirstBank Naira Credit Card
- First Bank partners with Etisalat Nigeria on mobile money
- Nigerian banks suffer in the oil storm
- MainOne CEO Funke Opeke on the challenges of and opportunities for investing in Africa
- Africa on course for growing debt issuance: Megan McDonald, Global Head of Debt Primary Markets, Standard Bank
- Timothy Oguntayo takes charge as Skye Bank CEO
- Western Union launches outbound remittances for Nigeria
- Taking Nigerians cashless: Q&A with PayPal’s Head of Business Development in Sub-Saharan Africa, Malvina Goldfeld
- Citi’s Sub-Saharan Africa CEO Ade Adeyemi to take over as Ecobank Group’s new CEO
- UBA Group Appoints Tony Elumelu as Chairman
- Nigeria’s president replaces “bad bank” AMCON CEO Mustafa Chike-Obi with Ahmed Lawan Kuru
- Ayodele Somefun appointed Managing Director of Nigeria’s Unity Bank
- Botswana’s Letshego buys FBN Microfinance Bank in Nigeria expansion move
- Nigeria’s UBA Group appoints Kennedy Uzoka as Managing Director, Victor Osadolor as Deputy MD
- Sola David-Borha appointed Standard Bank Group Africa CEO, Yinka Sanni appointed Stanbic IBTC Holdings CEO & Demola Sogunle appointed Stanbic IBTC Bank CEO
- Nigerian Stock Exchange launches Premium Board
- Yvonne Ike, RenCap’s West Africa CEO, quits for Bank of America
- Nigeria’s Diamond Bank appoints Chris Ogbechie as Chairman to replace retired Nnaemeka Achebe