Stanbic IBTC Announces Board Shakeup, Expects Fresh Ideas

By Modupe Gbadeyanka

One of the leading financial powerhouses in Nigeria, Stanbic IBTC Holdings Plc, a member of Standard Bank Group, has announced changes to its board of directors.

The company, in a statement on Monday, explained that the move was part of its effort to consolidate on its impressive financial performances and market leadership across the financial services spectrum.

The firm stressed that the appointments are expected to bring fresh thinking and ideas as well as energy into the group’s operations, stating that those chosen cut across the Stanbic IBTC Group, including Stanbic IBTC Bank, Stanbic IBTC Asset Management Limited, Stanbic IBTC Pension Managers Limited, and Stanbic IBTC Insurance Brokers Limited.

According to the statement, Mr Adekunle Adedeji has been promoted to the position of executive director at Stanbic IBTC Holdings Plc with effect from February 22, 2019.

It was disclosed that Mr Adedeji, who has over 20 years’ experience, is also Stanbic IBTC Group’s Chief Financial Officer.

He had a similar experience with Stanbic Ghana and has worked with Ernst & Young, belonging to several professional institutes, including the Institute of Chartered Accountants of Nigeria (ICAN).

Also appointed by the company is Mr Barend Johannes Kruger, who is now a non-executive director for Stanbic IBTC Bank effective from May 20, 2019, following the receipt of all required regulatory approvals.

Mr Kruger had previously been appointed to the board of Stanbic IBTC Holdings Plc in January 2019 and will now serve on both the Holding Company and the bank boards as a non-executive director.

Mr Kruger is a chartered accountant with over 30 years’ experience in the financial services industry.

Another person appointed to the board of the bank, following regulatory approvals, was Ms Rabi Isma as an independent non-executive director, effective from May 9, 2019.

Ms Isma has extensive experience in the telecoms industry with 9Mobile and Etisalat Sri Lanka. She has previous worked for the British Council in Nigeria and served as special adviser to the  governor  of Kano State.

Ms Isma has multiple certifications and has attended several executive programmes, both at the Harvard and Michigan Ross Business Schools, United States of America.

Also appointed is Mrs Bunmi Dayo-Olagunju as an Executive Director in charge of Operations for Stanbic IBTC Bank.

Prior to this, Mrs Dayo-Olagunju was Deputy Head of Operations and also previously served as Chief Executive of Stanbic IBTC Asset Management Limited, the group’s asset management subsidiary.

She has over 20 years of hands-on experience in the financial services industry having worked in different capacities across the subsidiaries of Stanbic IBTC Group.

Similarly, Mr Dele Sotubo replaced Mrs Dayo-Olagunju as Chief Executive of Stanbic IBTC Asset Management Limited effective February 12, 2019; Mr Olumide Oyetan was appointed Executive Director, Investments, Stanbic IBTC Pension Managers Limited with effect from March 1, 2019;  Mr  Charles Emelue was appointed Executive Director, Operations, Stanbic IBTC Pension Managers Limited on April 1, 2019 while Ms Sakeenat Bakare was appointed Executive Director for Stanbic IBTC  Insurance  Brokers  Limited, effective February 26, 2019.

The statement described the appointed persons as highly qualified and experienced to deliver results in their new roles.

Chief Executive of Stanbic IBTC Holdings Plc, Mr Yinka Sanni, while commenting on the appointments,  said, “We are pleased to entrust these individuals with new responsibilities and look forward to benefiting immensely from their wealth of knowledge and experience as we enter the next phase of our growth.

“In filling these roles, we identified our priorities and these individuals fit into our growth objectives.”

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.

more recommended stories

%d bloggers like this: