VALENTINE SPECIAL/10 Bankers We Love ...
In these tough times when many bankers are seen as shylock and mean-spirited, some are tough but caring, firm but fair, and they run banks that care and love their customers. On a day like this when love is celebrated around the world, these 10 bankers ca
Ahmed Kuru, MD, AMCON - CalmandThorough
Ahmed Lawan Kuru, the Managing Director of the Assets Management Corporation of Nigeria (AMCON), had over 30 years experience in the banking industry before being appointed to his present position August last year.
In the relatively short period at the helm of the debt-recovery organization, Kuru has exhibited commendable level-headedness in dealing with defaulters, working quietly behind the scenes to stabilise distressed organizations with little fuss or fanfare. Described as calm and thorough, he gives off the impression of being more concerned with helping ailing companies back to the path of profitability rather than taking punitive measures against defaulters. He has taken the task of what is surely not an enviable job with gusto; it should be noted that his task is especially more difficult now, considering the current economic climate in the country.
Prior to his appointment as the helmsman of AMCON, he was the Group Managing Director of Enterprise Bank Limited.
Kuru started his banking career with Habib Bank in 1985. Habib was later renamed Keystone Bank after it was nationalized. Before then, he had worked as a Budget Analyst with the Federal Ministry of Finance in 1984.
He was also Executive Vice Chairman, Emeritus Capital Limited, a financial services firm, with specialty in international business development focusing on sub-Saharan Africa.
Kuru’s educational background is in Business Administration where he holds both Bachelors and Masters Degrees from Ahmadu Bello University (ABU), Zaria. He is also an alumni of the Chartered Institute of Bankers, Lagos Business School and London Business School.
Bello Maccido, Chairman, FBN Merchant Bank Ltd - Cool and Calculated
Bello Maccido became the Chairman of FBN Merchant Bank effective January 1, 2016. Prior to this, he was the Group Chief Executive Officer of FBN Holdings Plc He has over 20 years hands-on experience across the Nigerian financial services industry, covering such areas as corporate and investment banking at such notable institutions as Ecobank Nigeria Plc and FSB International Bank. While at FSB, Bello rose to become Acting Managing Director of the bank.
Prior to joining First Bank, he was the pioneer Managing Director and Chief Executive of, Legacy Pension Managers, a Pension Fund Administrator (PFA). In recognition of his pioneering efforts in the pension industry, he was elected Chairman, Pension Funds Operators Association of Nigeria, a body comprising chief executives of the 36 licensed pension operators.
Anywhere Maccido, who is regarded as cool and calculated, steps his foot, he leaves indelible marks. His times as the CEO of FBN Holdings witnessed notable reforms that saw First Bank transforming into a world-class financial supermarket. Previously at Legacy, as the pioneer chief executive, he put the PFA on a pedestal such that the company has been ranking consistently on the top of the list of PFAs in Nigeria.
Maccido, the Wakilin Sokoto, holds a Bachelor of Laws from Ahmadu Bello University and was called to the Nigerian Bar in 1985.
He also holds a Master’s Degree in Business Administration (MBA) from Wayne State University, Detroit, Michigan USA, with specialisation in Managerial Finance, and is a Chartered Stockbroker.
The simple and down-to-earth Maccido has attended a number of high profile Executive Development Programmes at Harvard Business School, The Wharton School in University of Pennsylvania, as well as IMD in Lausanne, Switzerland.
He was on the Council of The Nigerian Stock Exchange from March 2009 to May 2012, on the Finance Committee of the National Council on Privatisation, the Implementation Committee on Financial System Strategy (FSS2020), the Presidential Committee on Business support for Vision 2020 and the Presidential Monitoring Committee on the Niger Delta Development Commission (NDDC). Recently, he was appointed a member of the Ministerial Task Force on Refineries.
Bola Adesola, MD/CEO, Standard Chartered Bank - SoftPower
Bola Adesola comes to town with a very rich
and result-laden resume. She is arguably one of the most liked female titans in the financial sector owing to her immense contributions to the growth of the financial services sector.
Prior to joining the bank, she served as an executive director in First Bank of Nigeria Plc where she superintended the Corporate Banking business. Her last role at First Bank Plc was managing the entire business in the Lagos Directorate of the bank including retail, corporate and commercial banking. Banking industry watchers noted that the portfolio spoke deafeningly of her competence and the level of confidence reposed in her ability by the bank’s board.
Fondly addressed as Bola, she put in nine years in senior leadership positions at Citibank during which she worked in both Nigeria and Tanzania markets. She was previously Managing Director of Kakawa Discount House (KDH) where her sterling accomplishments remain matchless. Industry insiders charged that “she drove record business performance” at KDH. Living in an age noted for dearth of authentic role models, many female careerists in and out of the financial services sector hail her as one. They see her as proof of how far at the top erudition, professionalism and dint of hard work can take a woman in a male dominated business environment. Close aides say her enchanting smile imbues them with go-getting confidence
Bola holds a Law degree from the University of Buckingham, UK and was called to the Nigerian Bar in 1985. An alumnus of Harvard Business School and Lagos Business School, she has over 25 eventful years in the country’s banking industry.
Herbert Wigwe, CEO of Access Bank - FirmbutFair
Herbert Wigwe, the group managing director and chief executive officer of Access Bank, is one of Nigeria’s stylish top executives. Wigwe, who is armed with a degree in accountancy from the University of Nigeria, an MA in Banking and Finance from the University College of North Wales (now Bangor), an MSc in Financial Economics from the University of London, is an alumnus of the Harvard Business School Executive Management Programme.
He began his career at Coopers & Lybrand, Lagos as a management consultant later qualifying as a chartered accountant.
After a stint at Capital Bank, he joined GTBank where he spent over a decade working in corporate and institutional banking, rising to become the executive director in charge of institutional banking.
In 2002, Wigwe and his business partner, Aigboje Aig-Imoukhuede, saw a unique opportunity and grasped it, acquiring what was then a small commercial bank, Access Bank – at the time, the 65th largest of the 89 banks in the country.
Access Bank is now one of the top five banks in Nigeria and ranked among the top 500 global banks according to a 2015 report by The Banker magazine and is aiming to be Africa’s top bank. It currently serves over 6.5 million individual and corporate account holders, through 350 branches and with more than 1,500 ATMs in major centres across Nigeria, sub-Saharan Africa and the UK.
As one of Nigeria’s foremost corporate bankers, he has helped develop some of Africa’s biggest companies in the construction, telecommunications, energy and oil and gas sectors through a unique model, which involves understanding and providing financial support and expertise.
Being a seasoned entrepreneur, Herbert appreciates the innovative potential of young people and actively invests in the development of the youth through making out time to mentor aspiring enterpreneurs.
His flair for corporate social responsibility and sustainable banking practices has seen the bank receive a lot of associated accolades which have positioned the bank as a leader in corporate citizenship. When its comes to decision making, Wigwe is firm but fair.
Considering his impact in ensuring that the Nigerian banking sector attained international standard, the University of Port Harcourt, Rivers State, recently conferred on him an honorary doctoral degree in science.
His career in financial services spans more than 25 years including over a decade as deputy managing director.
Ladi Balogun, MD/CEO of FCMB Plc - ToughbutCaring
Ladi Balogun is the chief executive officer of First City Monument Bank. The commercial and investment banker of was educated at Charterhouse School, the University of East Anglia where he bagged a Bachelor of Science in Economics in 1993. He was also at Harvard Business School Masters in Business Administration (MBA) 2000.
Though Ladi is the son of the founder of First City Monument Bank, Otunba Subomi Michael Balogun, he is described by associates as very humble, easy going and passionate about accomplishing set goals. Not your regular silver-spoon kid, his dedication to duty is both inspiring and motivating. Though with a boyish look, Ladi can be tough but caring when its comes to decision affecting staff and customers.
He began his banking career in 1993 at Morgan Grenfell and Co Limited and worked at Citibank in New York before returning to Nigeria. He joined FCMB as an Executive Assistant to the Chairman/ Chief Executive of First City Merchant Bank Limited as the bank was then known in 1996.
He has over 20years experience in commercial and investment banking in Europe, the United States of America and Africa. His father, Otunba Subomi Balogun, once praised him as a worthy successor to his banking empire at a dinner by the Harvard Business Alumni in Lagos.
Balogun has widely diversified the bank’s remit; commercial banking and micro-finance are becoming more important. Under his watch, the bank has very much increased its client base from 70,000, mainly high-net-worth individuals and businesses served by five branches, to two million customers and 270 branches.
The bank’s micro-lending activities that began in 2007 have also grown strongly and reportedly created £20 million in annual profit by 2013. Under his leadership, FCMB’s micro-finance business was launched, which was central to the bank’s financial inclusion programme. Even with being in its infancy, FCMB has already given thousands of micro-finance loans with a default rate of only 0.5 per cent.
Ladi is one banker that sees the benefits of creating new businesses within one that is established.
As a banker he has continued to add value to the bank, diversifying its business while also helping other entrepreneurs realise their goals – which can actually be a lot more fulfilling than being an entrepreneur focused on a single enterprise.
Nnamdi J. Okonkwo, MD of Fidelity Bank Plc -Innovative and Serviceoriented
Nnamdi J. Okonkwo assumed duty as managing director and chief executive officer of Fidelity Bank with effect from January 2014. Until his appointment, he was the executive director in charge of the South Directorate of the bank. As the MD/CEO, he successfully supervised the rebranding of Fidelity Bank in 2015, repositioning the Bank for even greater achievements.
An innovative banker, Okonkwo is credited for notable reforms and recent rebranding of the bank. Refreshed, the bank has introduced new products to the banking public and has endeared itself to existing customers and prospective ones. Led by him, Fidelity Bank has pursued the passion and cause for the small and medium enterprises (SMEs) more vigorously. This is manifest in its increased portfolio for SMEs and weekly awareness programme aired on radio.
Okonkwo holds a B.Sc. in Agricultural Economics from the University of Benin and an MBA, Banking and Finance from Enugu State University. He is also a graduate of the Advanced Management Programme (AMP) of INSEAD and has attended other senior-level programmes at world-renowned institutions. Before joining Fidelity, Okonkwo was the Head of the Corporate Banking Directorate in (UBA) and had at various times been the MD/CEO of UBA, Ghana and the Regional Chief Executive Officer of all UBA Subsidiaries in Ghana, Liberia and Sierra Leone. He has over 26 years’ experience in various areas of banking.
Peter Amangbo, MD of Zenith Bank Plc - CalmandFirm
Peter Amangbo has over two decades of experience with Zenith Bank, which cuts across corporate finance and investment banking, business development, credit and
marketing, finance control and strategic planning and operations. He was appointed to the board of the bank and its subsidiary companies in 2005.
He was a pioneer non-executive director of Zenith Bank UK. Prior to joining the banking industry, he was a consultant with PriceWaterhouse where he covered assignments in financial services, manufacturing and general commerce.
Known for his passion for banking with credible track record, those who know Amangbo will attest to the fact that is calm and firm when is comes to dealing with the bank’s customers and other stakeholders.
Amangbo is an alumnus of INSEAD and a fellow of the Institute of Chartered Accountants of Nigeria.
He holds an MBA from the Warwick Business School and a B.Eng in Electrical and Electronics Engineering from the University of Benin (1988), a post-graduate diploma in Computer Science and a Master’s degree in Business Administration.
He took courses on Strategic IQ Programme, Strategic Thinking and Management for Competitive Advantage and Execution in Action - The Art of Turning Strategy into Action at the Harvard Business School, Wharton School of Business and HSM – New York respectively.
He trained with PriceWaterhouseCoopers and qualified as a Chartered Accountant before joining Zenith Bank in 1993. He was the head of Financial Control and Strategic Planning before reassignment as head of the Corporate & Retail Banking Group and the bank’s Group Zonal Head, Lagos.
Zenith Bank, a leading financial institution with strong trajectory of achievement is headquartered in Lagos, Nigeria and has franchise in major financial centers around the world. Led by Amangbo, the bank provides an assortment of services and products in areas including Corporate and Investment Banking, Commercial and Consumer Banking, Personal Banking, Private Banking and Trade Services.
The bank has over 500 branches and business offices, spread across all States of the Federation and the Federal Capital Territory (FCT), Abuja.
For six years, the bank has been adjudged the largest bank in Nigeria by Teir-1 capital, and has also earned local and international endorsements and recognitions which include Best Bank in Corporate Governance, Best Customer Service Bank in Nigeria and the Most Customer-Focused Bank in Nigeria.
Phillip Oduoza, CEO
Being head of one of the largest financial institutions in Africa since 2010 is no mean feat but Phillip Oduoza’s antecedents explain why he is a banker of repute. The GMD/CEO of UBA Group holds a First Class B.Sc. (Hons.) degree in Civil Engineering and an MBA (Finance), both from the University of Lagos and has undertaken the Advanced Management Programme of Harvard Business School.
Oduoza commenced his banking career in 1987 with International Merchant Bank (IMB) as a credit officer, where he trained in credit analysis.
He had a stint between 1988 and 1991 at Citibank, a period during which he was equipped with an indispensable knowledge of banking operations, relationship management, credit/marketing, efficient implementation of technology, risk management and lean banking methods.
In 1991, he worked with a small team of young and talented professionals to pioneer Diamond Bank Plc and built it into one of the strongest brands and most successful financial services entities in the country.
Before being appointed UBA CEO in 2010, Oduoza had proven his capacity in various roles with the bank.
He served as Deputy Managing Director at the same bank. He served as Deputy Managing Director and Executive Director of Retail Financial Services.
A seasoned banker, he has not only helped UBA maintain its leading role in African banking, he has also delighted shareholders by helping the bank forge ahead profitably.
Recently, UBA reported its financial results for the nine months ending September 30, 2015, which showed a rise of 44 per cent in profit after tax to N48.6 billion.
A man of few words, Oduoza’s profile as an astute administrator was again highlighted recently when he led a consortium of local banks to facilitate a $1.2 billion syndicated facility for the national oil company in Nigeria, NNPC, further reflecting the strength of the bank.
He has led the bank to diversify more beyond Nigeria, with a quarter of the bank’s profits after tax coming from outside Nigeria.
Sola David-Borha, Chief Executive Officer, Stanbic IBTC Holding Plc - Velvet
TouchandLoving
Sola DavidBorha is the chief executive officer of Stanbic IBTC Holdings Plc. Before then, she served as the chief executive officer at IBTC Chartered Bank plc and was responsible for overseeing the Corporate Finance and Corporate Banking Departments, Project and Structure Finance Departments, Asset Management, and Private Banking.
She also supervised Treasury and Financial Services and was also responsible for the bank’s correspondent banking relationships. She served as chief executive of Stanbic IBTC Bank Plc from May 2011 to November 2012 and served as its Head of Investment Banking Coverage Africa (excluding South Africa) and deputy chief executive officer.
A seasoned banker, she has succeeded in lighting the dark path of several other bankers in the land. She is adjudged brainy and possesses uncommon leadership skill; down-to-earth and unassuming.
Those in the know hail her as a woman with a loving heart and a leader by example, which explains why she enjoys the confidence, trust and loyalty of junior and senior colleagues alike, including Yinka Sani and Atedo Peterside respectively among several others. Today, she is one of the few who have succeeded in the male-dominated industry.
David-Borha holds Bachelors of Science degree in Economics from the University of Ibadan, Oyo State and obtained an MBA degree from Manchester Business School, United Kingdom. Her executive educational experience includes the Advanced Management Programme of the Harvard Business School and is also an honorary Fellow of the Chartered Institute of Bankers of Nigeria (CIBN).
David-Borha joined the Board of IBTC Investment Bank in July 1994 and has remained there till date even after the bank merged with the Stanbic Group of South Africa.
Rasheed Olaoluwa , MD of Bo I-Invov at ive and Thorough
Rasheed Olaoluwa is the Managing Director of the Bank of Industry. He has had an illustrious career in the financial services sector. He is a very experienced professional banker who commands great respect among his colleagues and analysts alike. Highly cerebral, Olaoluwa is a first class graduate of Civil Engineering from the University of Ife (now Obafemi Awolowo University) and holds an MBA from International Graduate School of Management, Spain.
Olaoluwa started his career at Arthur Andersen where he qualified as a Chartered Accountant. He has played senior roles in banking, leading up to his appointment as the MD/CEO of the erstwhile Universal Trust Bank Plc, prior to joining United Bank for Africa (UBA) in 2006.
As an executive director at UBA between 2007 and 2011, as well as the CEO of UBA Africa, Olaoluwa played a key role in the expansion of UBA’s operations into 18 countries in subSaharan Africa within three years, recording exponential growth in the bank’s deposit base and profitability during his tenure.
As a result of this, he was appointed Group CEO of UBA Capital Plc, a leading pan-African asset management and investment banking group. Highly innovative and thorough, Olaoluwa is versed in marketing and relationship management, treasury management, currency trading and investment banking.
Before his appointment as MD of BoI in May 2014, he was the Group Director, Financial Services at Heirs Holdings, the African proprietary investment company chaired by Tony O. Elumelu. Olaoluwa’s choice to head Nigeria’s foremost development finance institution was influenced by a need to drive industrialisation in the Nigerian economy, particularly among small and medium-sized enterprises (SMEs).
The increased integration of these smaller businesses into the mainstream economy will provide a creative solution to low employment figures in Nigeria, while increasing their contribution to the industrial sector, which has historically recorded low participation rates.
A practical example of the BoI’s strides under Olaoluwa’s influence is N1billion fund for the fast-growing fashion industry in the country which proved that despite being a financial egghead, he sees the merits in supporting Nigeria’s creative industry. He is also at the forefront of helping to revive Nigeria’s ailing textile industry.