Atedo Peterside Resigns as Stanbic IBTC Chairman

March 22, 2017
Atedo Peterside (m)
Atedo Peterside (m)

By Modupe Gbadeyanka

Foremost industrialist, Mr Atedo Peterside, has resigned as Chairman of Stanbic IBTC Holdings Plc.

The resignation of Mr Peterside was announced on Tuesday. However, this will take effect from March 31, 2017.

Mr Peterside founded IBTC (then known as Investment Banking & Trust Company Limited) in February 1989 and was its pioneer Chief Executive Officer (CEO) until 2007, when the merger with Stanbic Bank Nigeria Limited was consummated to form Stanbic IBTC Bank Plc.

He resigned as CEO and was appointed Chairman of the enlarged Stanbic IBTC Bank Plc on the same day in 2007 and later went on to become Chairman of Stanbic IBTC Holdings Plc following the Group’s restructuring into a holding company in November 2012.

In a statement issued by the Board and Management of Stanbic IBTC Group, the leadership, service and immense contributions of Mr Peterside to the Stanbic IBTC Group for over 28 years were acknowledged.

The firm said Mr Peterside will however remain a Non-Executive Director on the Boards of both Standard Bank Group Limited and The Standard Bank of South Africa Limited.

It said a new Chairman would be appointed at its meeting scheduled to hold in April 2017 (subject to any required regulatory approval), following which an announcement would be made to the Nigerian Stock Exchange (NSE).

Stanbic IBTC Holdings Group wished Mr Peterside “all the best in all his future endeavours.”

Modupe Gbadeyanka

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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