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Wema Bank Appoints Kasali Chairman as Asekun Leaves

By Dipo Olowookere

Mr Babatunde Kasali has been announced as the new Chairman of Wema Bank Plc, following the resignation of Mr Adeyinka Asekun on Thursday, May 10, 2017 after his nomination as Nigeria’s Ambassador was recently confirmed by the Senate.

Mr Asekun became Chairman of Wema Bank in 2012 and played a leading role in the successful turnaround and transformation of the lender, which has culminated in the introduction of Africa’s first fully digital bank called (ALAT).

Other significant events that took place during Mr Asekun’s tenure included re-capitalization of the bank, the bank’s return to profitability, Wema Bank’s corporate re-branding and the upgrade to a National Banking license from a Regional license.

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In a statement issued by Wema Bank, it stated that Mr Asekun’s resignation was a step in preparation for this new role in the service of the nation.

The board, in the statement signed by Oluwole Ajimisinmi, the Company Secretary/Legal Adviser, expressed its profound gratitude to Mr Asekun for his service and wished him the best in his future endeavours.

His successor, Mr Kasali, is a non-executive director of the financial institution.

Wema Bank described Mr Kasali as a consummate professional with expertise in Audit, Risk Management, Compliance and Retail banking, spanning over three decades.

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He has served as General Manager and Regional Bank Head for United Bank for Africa Plc., a bank he joined in 1996. During his time at the bank, he held several positions such as; Chief Inspector, Regional Director and Divisional Director. He has also served as Managing Director of Resolution and

Restructuring Company Limited, a subsidiary of the Asset Management Company of Nigeria (AMCON).

Mr Kasali has been a Non-Executive Director at UAC of Nigeria Plc. since March 27, 2013 and was a Non-Executive Director of UACN Property Development Company Plc., from January 13, 2010 to March 24, 2013.

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He had from February 2015 to November 26, 2015 served as a Non-Executive Director of Wema Bank Plc.

Mr Kasali is a Fellow of the Institute of Chartered Accountants of Nigeria. He graduated with B.Sc. (Hons) Degree in Economics from Manchester Metropolitan University, UK in 1977.

Wema Bank expressed confidence that the appointment of Mr Kasali will lead to the continued transformation and growth of the Bank, particularly as the Bank positions itself as a market leader in Nigeria’s retail banking segment through technology and innovation.

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Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

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