The FirstBank of Nigeria, has announced Dr. Adesola Adeduntan, the Executive Director/Chief Financial Officer, as it’s is Managing Director-designate.
He is expected to take over from Mr. Bisi Onasanya, who has sent in his notice of retirement as Group Managing Director/CEO.
Also announced by the FBN Holdings, the financial institution’s parent company is Gbenga Shobo who is the Executive Director, Lagos & West, as Deputy Managing Director-designate.
The already ratified appointments by the Board of Directors pursuant to regulatory approvals takes effect from January 1, 2016.
The new MD designate has strength in Treasury & Financial Management, Risk Management, Accounting, Corporate Governance and Strategy Development, Advisory and Compliance.
His deputy has been in the banking industry for over 25 years with experience in Corporate banking, Institutional banking, Commercial banking, Retail banking and Treasury.
Expectedly, the pioneer Group Chief Executive Officer, FBN Holdings, Bello Maccido, is to become pioneer Chairman of the newly-licensed FBN Merchant Bank Ltd, while UK Eke, the bank’s Executive Director, South, is Group Managing Director-designate, FBN Holdings Plc.
Chairman of FirstBank, Prince Ajibola will proceed on retirement, paving the way for Mrs. Ibukun Awosika to step in.
Making public the appointments, the Group Chairman, FBN Holdings, Oba Otudeko argued that, “Following an exhaustive and competitive process, we are proud to announce these appointments. In reaching these decisions, we are mindful of the imperatives for a more efficient group structure that will benefit the Group’s need to deploy systems which deepen efficiency while expanding revenue and returns on investment.
“We are confident that we have made the right choices in these appointees. In selecting our MD and DMD we were particularly mindful to identify outstanding and topnotch professionals with complementary and mutually reinforcing skill set.
“These appointments are a testament to the strength of our succession planning mechanisms and the calibre of candidates it produces. It also re-articulates our commitment to put our customers first with the confidence in the value that this new leadership team brings to bear on behalf of the Group, customers and employees, even as we strive to return greater value to shareholders,”