Dangote Cement Board Member Viswanathan Shankar Joins FBN Holdings

March 21, 2024
Viswanathan Shankar

By Aduragbemi Omiyale

The board of FBN Holdings Plc, a financial powerhouse in Nigeria, has announced new additions to its board of directors as a billionaire businessman, Mr Femi Otedola, drives the firm to greater heights.

In a notice to the Nigerian Exchange (NGX) Limited, FBN Holdings said it has appointed Mr Olusola Adeeyo as a non-executive director subject to the approval of the Central Bank of Nigeria (CBN) and the shareholders at the next Annual General Meeting (AGM) of the company later this year.

It also announced the appointment of Mr Viswanathan Shankar as an independent non-executive director subject to the authorisation of the CBN and shareholders. He is currently on the boards of Dangote Industries Limited and Dangote Cement Plc as a non-executive director.

The notice signed by the company secretary, Mr Adewale Arogundade said Mr Adeeyo brings to the board over 40 years of rich experience in corporate banking, treasury, financial advisory and transformation leadership.

He started his banking career at the Corporate Banking Department of Citibank and was later moved to the reconstituted Treasury and Foreign Exchange Unit of the lender. He capped his banking career as part of the founding management of Stanbic IBTC Bank as director/group head of Treasury.

Until February 2023, he was the chairman of AXA Mansard Insurance Plc and had previously served on the board of other reputable companies, including the Central Securities and Clearing Company (CSCS) Plc, and Viathan Engineering Limited, among others.

As for Mr Shankar, he is expected to bring his more than 44 years of global financial sector experience in C-suite roles across geographies and products to the board of FBN Holdings.

He co-founded Gateway Partners, a private equity and alternative investments manager focused on investing in the dynamic growth markets of Africa, Asia and the Middle East. He previously served as Head of Investment Banking for the Asia Pacific at Bank of America and is currently a non-executive director on the board of Dangote Industries Limited, Vision Blue Resources, and others.

In a related development, FBN Holdings has announced the appointment of three directors to the board of its banking subsidiary, First Bank of Nigeria Limited.

The appointees are Mrs Remilekun Adetola Odunlami as a non-executive director and Mr Anil Dua and Mrs Fatima Ibrahim Ali as independent non-executive directors, all subject to the approval of the central bank.

Aduragbemi Omiyale

Aduragbemi Omiyale is a journalist with Business Post Nigeria, who has passion for news writing. In her leisure time, she loves to read.

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