Balogun now Chairman as Legacy Pension Managers Reorganises Board

Following the acquisition of majority share 60 per cent of the Legacy Pensions by the FCMB Group recently, the new owners have reorganized the board of the pension fund administration.

This has witnessed the appointment of Mr Ladi Balogun as the chairman of the company’s board and Mr. James Ilori as non-executive director .

A statement from the PFA, said this has received the approval of the National Pension Commission.

Balogun, was until March last year the Chief Executive Officer of First City Monument Bank (the retail and commercial banking subsidiary of FCMB Group). He has over 23 years’ experience in the financial services industries in Europe, the United States of America and Africa. Balogun also holds a Bachelor’s degree in Economics from the University of East Anglia, United Kingdom and a Masters in Business Administration (MBA) from Harvard Business School, United States of America.

His appointment in 2007 as the Managing Director of First City Monument Bank Limited saw the transformation of FCMB from an investment bank to a prominent mid-tier Nigerian commercial bank and financial services group.

Balogun serves on the board of several FCMB Group companies and chairs the board of Credit Direct Limited.Mr. Balogun also serves as Chairman of Tenet Investment Company, a private equity investment firm, focused on the food and agri-business value chain in West Africa.

On the other hand, Ilori has vast experience in research, business development, risk management, and all areas of the investment decisionmaking process acquired from leading organisations in Nigeria and the United Kingdom. Before his appointment as the Chief Executive Officer of First City Asset Management ( FCAM) in 2014, he worked as a fixed income fund manager with Crown Agents Investment Management in the United Kingdom.

Ilori, who is a CFA charter holder, has successfully propelled FCAM to become a top-rated wealth management company. It provides services that cut-across collective investment schemes such as mutual funds and investment plans predominantly for retail investors, as well as specialised discretionary portfolio management, for high net-worth individuals and institutional investors, within and outside Nigeria.