Greg Davis Resigns as Ecobank Chief Financial Officer

By Dipo Olowookere

The Chief Financial Officer of Ecobank Transnational Incorporated, the parent company of the Ecobank Group, Mr Greg Davis, has resigned from the position. It was explained that Mr Davis threw in the towel so as to spend more time with his young family who are in the United Kingdom.

At a meeting of Ecobank’s board, the resignation of Mr Davis was accepted and in line with the bank’s established executive succession plan, the board has appointed Mr Ayo Adepoju, Vice President, Group Finance as acting CFO.

Mr Davis was a key member of the team, closely supporting the Group CEO, Mr Ade Ayeyemi, in implementing the Roadmap to Leadership strategy of the Group since joining in 2016. One of his enduring successes has been building the quality and depth of the finance team across the Group and making significant enhancements.

Mr Ayeyemi said, “Greg and I have worked very closely together, and I have great admiration for his well-grounded financial acumen, sound judgement and focused commitment and dedication to Ecobank.

“His strong financial management skills have played a key role in the execution of our Roadmap to Leadership strategy. I am sad to see him leave but recognise the importance of family life and he has my very best wishes for his next challenge. The Board has every confidence in Ayo Adepoju stepping into his new role and he has our full support.”

Mr Adepoju has worked closely with Mr Davis, performing the role of Group Head of Business Performance and Analytics for the Group for the last two years.

He has worked on the strategic aspects of the financial management of the Group, including close equity investor interaction.

The acting CFO has built up significant experience within the Group and has a deep understanding of the underlying drivers of the business across Africa which are imperative for the next stage of the Group’s growth.

Before his current role as Group Head of Business Performance and Analytics, Mr Adepoju was Ecobank’s Group Financial Controller, where he was responsible for financial and regulatory reporting for the Group.

Prior to joining Ecobank, he had a career at PricewaterhouseCoopers in London and Lagos as an Assurance Manager in the financial services practice. He is an Accounting graduate of the University of Lagos, Nigeria, where he earned a Bachelor of Science degree with First Class Honours and has an MBA from Warwick Business School, United Kingdom.

He is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) with national overall best prize awards at two consecutive stages of the ICAN examinations, attending executive education courses at both the Harvard Business School and the London Business School.