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Wilde, Fakhoury to Lead Teneo’s Restructuring Operations in Middle East

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Teneo

By Aduragbemi Omiyale

The duo of Matthew Wilde and Elie Fakhoury has been appointed to lead the financial advisory and restructuring operations of Teneo in the Middle East.

Teneo is a global CEO advisory firm with an already strong presence in the region where it provides a wide range of strategic communications, management consulting, and risk advisory services from offices in Riyadh, Dubai, and Doha.

To expand its operations, Teneo launched its Financial Advisory business and wants Wilde and Fakhoury to play significant roles. They most recently worked together at AlixPartners.

Wilde is one of the region’s most experienced restructuring practitioners. He led PwC’s restructuring and M&A teams in the region for many years until 2019.

He has also played significant roles in many of the largest and most complex restructurings in the region including Arabtec, NMC Healthcare, Al Jaber, Saudi Oger, Dubai World, DryDocks World and OW Bunker, among many other projects.

With over 15 years’ experience of working in the region, Fakhoury has successfully planned and led both large-scale turnaround programs as well as operational improvement and balance sheet restructuring projects for a broad range of clients including The Abraaj Group, Arabtec, JBF RAK and many others.

“We are delighted to welcome both Matthew and Elie to Teneo as we accelerate our expansion in key markets around the world,” said Daniel Butters, CEO of Teneo’s Financial Advisory business. “The Middle East represents a significant opportunity for our business and we look forward to continuing to grow our regional team and offering in the weeks and months ahead.”

Nick McDonagh, Senior Managing Director and Head of Teneo in the region said: “We are excited to have such an experienced team in Matthew and Elie join us in the Middle East. Their industry reputation and operational and financial advisory expertise will add another layer of sophistication to our integrated offering.

“Their arrival also highlights the exponential growth we have seen in our global financial advisory practice since the acquisition of the Deloitte UK restructuring business less than a year ago. We look forward to quickly integrating our new colleagues into our broader service offering to help accelerate our growth in the region.”

“To be joining such a dynamic and fast-growing business as Teneo is incredibly exciting. I am looking forward to combining our restructuring and financial advisory experience with Teneo’s market-leading strategic and financial communications, management consulting and risk advisory capabilities.

“In doing so, we can uniquely provide CEOs with what really matters to them when dealing with their most challenging business issues,” Wilde said.

“Our ability to combine our financial and operational restructuring strengths with Teneo’s “one-firm” collaborative culture, unique CEO advisory model, global network, and wide range of functional expertise will make Teneo’s offering truly unique in this region,” Fakhoury added.

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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Lagos Assembly Names Four New Principal Officers After Obasa Ouster

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lagos assembly land use charge

By Adedapo Adesanya

The Lagos State House of Assembly on Friday named four new principal officers, following the impeachment of the former Speaker, Mr Mudashiru Obasa, on Monday.

Mr Obasa, who was ousted as Speaker in absentia, a position he has held for the last nine years, was replaced by Mrs Mojisola Meranda (APC-Apapa 1).

Mr Obasa was impeached on Monday over alleged gross misconduct by 32 out of the 40 members.

The Clerk of the House, Mr Lekan Onafeko, was also suspended over alleged gross financial impropriety.

The House also dissolved all the standing committees inaugurated by the former speaker.

On Friday, Mrs Meranda, while presiding over plenary as Speaker, said the appointment of new officers arose from the change in the leadership of the House.

“The House has named Mr Temitope Adewale (APC-Ifako-Ijaiye 1) as the new Majority Leader, while Mr Adedamola Kasunmu (APC- Ikeja 1) is the new Deputy Majority Leader.

“This House has also named the Chief Whip, Mr Setonjo David (APC-Badagry 2), while the Deputy Chief Whip is now Mr Babatunde Saani (APC-Kosofe 2),” she said.

Before Mr Obasa’s impeachment, Mr Mojeed Adams was the Majority Leader, while Adedamola Kasunmu was the Deputy Leader.

Mr Mojeed Adams, the new Deputy Speaker, was the former Chief Whip, while Mr Setonji David was the Deputy Chief Whip.

Business Post reports that three lawmakers, primarily Mr Obasa, Mr Adams and Mr Akinsanya, were absent at the first plenary presided over by the new leadership.

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CBN Okays Inclusion of Three Directors to Fidelity Bank Board

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By Aduragbemi Omiyale

Fidelity Bank Plc has received the authorisation of the Central Bank of Nigeria (CBN) to appoint three directors to its board, a statement from the lender has disclosed.

Business Post reports that the bank picked Mr Abdullahi Sarki Mohammed as an independent non-executive director, Ms Obiaku Augusta Okam as a non-executive director, and Mr Sufiyanu Ibrahim Garba as an executive director, all effective January 14, 2025.

The company disclosed that the three directors were chosen to strengthen its leadership in a strategic move to sustain its impressive performance, as Mr Isa Mohammed Inuwa and Mr Chidi Agbapu retired from the board as an independent non-executive director and a non-executive director, respectively.

The chairman of Fidelity Bank, Mr Mustafa Chike-Obi, in a notice to the Nigerian Exchange (NGX) Limited, welcomed the appointees to the board and looked “forward to leveraging their extensive experience to drive the bank’s strategic objectives and further its growth trajectory.”

Mr Mohammed brings over 36 years of experience in financial services, public administration, and human resources development, having held key leadership and executive roles at prestigious institutions including First Bank of Nigeria Plc and Polaris Bank Limited. His extensive expertise encompasses banking, public service, and business advisory.

On her part, Ms Okam boasts more than 30 years of impressive experience across the banking, financial services, real estate, and retail sectors. Currently the Managing Director/CEO of Skycurve Nigeria Limited, she has held leadership positions at Zenith Bank Plc and Nigeria International Bank Limited (Citibank).

As for Mr Garba, he has over 30 years of multifunctional and cross-border experience at leading financial institutions in Nigeria and the United Kingdom including executive and leadership roles at prestigious financial and non-financial institutions such as Access Bank Plc, Union Bank of Nigeria Plc and Keystone Bank Limited. His career background spans banking, financial services, public service, general management and business origination across a broad range of segments.

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Institute Names Olam Agri as Top Employer in Nigeria, Switzerland, Eight Others

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Olam Agri food commodities

By Modupe Gbadeyanka

A leading player in the agribusiness sector, Olam Agri, has been recognised as a Top Employer in Nigeria, Switzerland and eight other countries.

This recognition was from the Top Employers Institute, which is a global authority that recognises excellence in people’s practices.

It is the fifth straight year the company is named as a Top Employer in the African continent, highlighting its status as a global employer of choice.

“At Olam Agri, we foster a purpose-driven workplace where employees thrive. We empower our team to create meaningful contributions to our company, customers, communities, and the environment.

“Guided by our entrepreneurial spirit, we encourage ownership, innovation, and excellence. We embrace diversity and create an inclusive environment where everyone feels valued, respected, and empowered to succeed,” the Chief Human Resources Officer at Olam Agri, Sriram Subramanian, stated.

The other eight nations Olam Agri was recognised as a Top Employer are Cameroon, Côte d’Ivoire, Ghana, Mozambique, Senegal, South Africa, Australia, and The Netherlands.

The Top Employers Institute recognises an organisation’s dedication to a better world of work through excellent HR policies and people practices.

The programme has certified and recognised over 2,400 Top Employers in 125 countries/regions across five continents. The survey covers six HR domains consisting of 20 topics including People Strategy, Work Environment, Talent Acquisition, Learning, Diversity, Equity & Inclusion, Wellbeing and more.

“Consistency in a not-so-consistent world? In a time of rapid change, where technological, economic, and social factors continually reshape our world, these extraordinary times bring out the best in people and organisations.

“This year’s Top Employers Certification Programme showcases the resilience of the certified Top Employers 2025, who consistently prioritise the growth and wellbeing of their people, as they enrich the world of work. We are proud to celebrate these people-first leaders and teams as the Top Employers for 2025!” the chief executive of Top Employers Institute, Mr David Plink stated.

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