Adeduntan is FirstBank CEO-designate ….. NATION

Adeduntan is FirstBank CEO-designate

A NEW helmsman is set to take over at First Bank.

Dr. Adesola Adeduntan, the Executive Director/Chief Financial Officer, is Managing Director-designate. He is to succed Mr. Bisi Onasanya, who has given a notice of retirement as Group Managing Director/CEO.

FBN Holdings, the bank’s parent company, also yesterday, announced Gbenga Shobo, the Executive Director, Lagos & West, as Deputy Managing Director-designate. The appointments, which have been ratified by the Board of Directors, subject to regulatory approvals, take effect on January 1, next year.

Adeduntan, has expertise in Treasury & Financial Management, Risk Management, Accounting, Corporate Governance and Strategy Development, Advisory and Compliance. Shobo has a banking career spanning over 25 years with experience in Corporate banking, Institutional banking, Commercial banking, Retail banking and Treasury.

Bello Maccido, pioneer Group CEO, FBN Holdings, is leaving his position to become pioneer Chairman of the newly-licensed FBN Merchant Bank Ltd.

UK Eke, the bank’s Executive Director, South, is Group Managing Director-designate, FBN Holdings Plc.

Other changes at FirstBank will see the Chairman, Prince Ajibola Afonja, retire. Mrs. Ibukun Awosika will succeed him.

A statement from the bank said the appointments followed a rigorous selection driven by the Board and supported by Heidrick & Struggle, the internationally renowned executive search firm.

The bank said that as pioneer Group CEO of the FBN Holdings Group in very critical times, Bello birthed the process to establish the multi-faceted group to comply with diverse regulatory requirements, navigating through uncharted territory.

“He will bring his wealth of experience, spanning over 30 years post call to Bar experience as an accomplished Retail, Corporate and Investment banker, to bear in his new role, chairing the Board of the emergent FBN Merchant Bank Ltd. The incoming Group Managing Director, UK has over 30 years’ post experience in financial services, auditing, consulting, taxation, process engineering and capital market operations,” the statement said.

In announcing the appointments, Dr. Oba Otudeko, (CFR), Group Chairman, FBN Holdings, explained: “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,” Otudeko said.

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