UBA splits operations, creates two divisions
The management of the United Bank for Africa (UBA) plc said it has split its operations into two broad divisions - UBA Africa and UBA Nigeria. Speaking in Lagos, the Group Managing Director of the bank, Phillips Oduoza said the exercise, which is part of restructuring of the bank, reinforced the three-year roadmap of key transformation initiatives designed to strengthen the group’s strategic positioning and leverage its huge Africa presence to fully exploit the burgeoning opportunities in Africa ’s economic renaissance, codenamed project Alpha plans.
The two directorates are to be driven by the two deputy managing directors with the support of executive directors. The UBA Africa Division will comprise the 18 African country subsidiaries of the UBA Group outside Nigeria. UBA Africa will have a CEO supported by two deputies along the bank’s two core product lines: Wholesale Banking (comprising, Corporate Bank, Institutional Bank and Public Sector) and Retail Banking (comprising, Personal Banking and SME Banking).
The bank also announced key appointments to drive its quest for industry leadership by 2015.
Kennedy Uzoka, Deputy Managing Director has been appointed the Chief Executive Officer, UBA Africa while Emeke Iweriebor, an Executive Director, has been appointed UBA Africa Deputy CEO, Retail Bank, while Oliver Alawuba is now UBA Africa Deputy CEO, Wholesale Bank.
According to Oduoza, “the newly created UBA Africa Division will grow and deepen the bank’s presence in member countries, optimise the synergies within the network, deepen service delivery excellence, and promote cultural integration and a high level of motivation in UBA staff in the different countries to foster one UBA Family”.
Also, the new UBA Nigeria Division of the Group which will be managed by Mr. Apollos Ikpobe, Deputy Managing Director, DMD, Domestic Bank, will consolidate all of UBA’s Nigerian businesses into a single division and will comprise all the regional banks in Nigeria, Corporate Bank, Energy Bank and UBA Pensions. The Nigeria division will intensify the bank’s focus on the Nigerian market, with the aim of expanding its market share, while deepening UBA’s wallet share of existing businesses.
Also in the announcement, Ms. Obi Ibekwe, formerly Executive Director, Human Resources and Customer Service is now the Executive Director, Resources overseeing Human Resources, Customer Service, Corporate Services and Procurement.
“These changes will have a strategic impact on our business as we take critical steps to fast-track our Project Alpha initiatives and transformation process,” Oduoza said.