The Fund Managers Association of Nigeria (FMAN) has elected the Managing Director of Coronation Asset Management Limited, Mr. Aigbovbioise Aig-Imoukhuede as the new President-elect of the association.

The decision was taken during the 10th Annual General Meeting (AGM) of the association held virtually on the 10th of August 2022 and anchored by the chairman, Mr. Dotun Sulaiman.

Similarly, the Managing Director/CEO of Emerging Africa Asset Management Limited, Adaku Ijara emerged as the Vice-president, while the Head of the Equities and Alternatives Solutions team at FBNQuest Asset Management Limited, Laura Fisayo-Kolawole emerged as the Executive Secretary of the association. The head of operations in ARM Investment Managers Limited, Toni Timi-Oyefolu emerged as the Treasurer of the association.

Other accomplished professionals elected into the executive arm of the association are; The Head of investment management, Stanbic IBTC Asset Management Limited, Fadekemi Obasanya who emerged as the Head of the Technical and Enlightenment Committee of the association, and the Head of risk management and compliance at Investment One Financial Services Group, Augustine Aghenta who emerged as the Head of Ethics, Rules, and Regulations Committee.

Subject to regulatory approvals from the Securities and Exchange Commission (SEC), the new excos are expected to pilot the affairs of the association in the next two years and are eligible to seek re-election for another term in line with the constitution of the association.

Brief profiles of the new appointees:

Mr. Aig-Imoukhuede has over 22 years of experience as a diversified financial professional with expertise in wealth management, corporate banking, treasury, and capital market transactions. He began his career at Fidelity Bank in 1997 and worked in various capacities before joining MBC International Bank, where he rose to become Head of the Construction/Real Estate and Investment Banking Unit. Afterward, he joined the Corporate Banking Directorate of First Bank of Nigeria Plc. He moved to Marina Securities Limited as Director of Wealth Management and Business Development; and later joined Coronation Merchant Bank as the Head of Coronation Capital Markets Division.

Following the divestment of Coronation Merchant Bank from the Asset Management subsidiary in June 2019, Mr. Aig-Imoukhuede was appointed as the Managing Director of Coronation Asset Management Limited.

He holds a bachelor’s degree in Business Studies from the University of Buckingham and is an Associate Member of the Institute of Directors, Nigeria, and the UK.

Adaku Ijara is MD/CEO of Emerging Africa Asset Management Limited, the Asset management subsidiary of the Emerging Africa Group. She is an investment professional and astute corporate lawyer with 17+ years of experience spanning roles in Treasury Marketing, Consumer Banking, Private Banking, Business Development, Legal, Compliance, Private Trust as well as wealth management in institutions such as Citizens International Bank, Fidelity Bank PLC, and Standard Chartered Bank among others.

Before her roles at the Emerging Africa Group, she served as Head of Private Trust at United Capital Trustees — a member of the United Capital Group, focused on trust administration and investment management services.

She is a Chartered Wealth Manager and a fellow of the Global Academy of Finance & Management (GAFM). She obtained an LL.M in Corporate Governance from the University of Manchester, United Kingdom, an LL. B from the University of Nigeria, Nsukka and was called to the Nigerian Bar in 2003. She is also a member of the Association of Investment Advisers & Portfolio Managers and Women in Finance NG.

Laura Fisayo-Kolawole is the Head of the Equities and Alternatives Solutions team at FBNQuest Asset Management. She is an investment professional with a proven track record. She started her career at Barclays Wealth and Investment Management in the UK, as a portfolio manager focused on UK assets, managing c. £1.5bn in multi-asset portfolios. She moved to Nigeria and FBNQuest Asset Management in 2013, ultimately running a team of buy-side research analysts, portfolio managers, and performance analysts.

Before her recent appointment, she was a member of the Technical and Enlightenment Committee of FMAN, where she participates in organizing training initiatives to add value to member firms as well as students and young professionals.

Toni Timi-Oyefolu is currently the Group Head, Operations in ARM Investment Managers Ltd. She has over 22 years of experience, 16 of which is in operations and general back-office administration in ARM Pensions. Before this, she worked at United Bank for Africa (UBA), Gateway Bank, and Regent Bank in client servicing and back-office (Foreign and Domestic Operations) roles.

She is a graduate of accounting from the University of Ilorin, Kwara State, and holds an MBA. She is a certified member of the Nigerian Institute of Management. She has taken several courses in leadership from top institutions like the University of Michigan, and the University of California, among others.

Fadekemi Obasanya is the Head of investment management at Stanbic IBTC Asset Management. She has about 15 years of experience in fund and portfolio management. Before her present role, she was the Head of Fixed income (a sub-unit under Investment Management). Her current role entails overseeing the Fixed Income, Equities & Real Estate units of the department.

Fadekemi holds a B.Sc degree in Economics from the University of Lagos and a Master of Science Degree in Finance from the University of Leicester, United Kingdom (UK). She is an associate member of the Institute of Chartered Accountants of Nigeria (ACA) and the Chartered Institute of Stockbrokers (CIS). She is also an authorized dealing clerk of the Nigerian Exchange Group.

Augustine Aghenta is the Head of Risk Management and Compliance at Investment One Financial Services Group (IOFS) and has about fifteen years of banking and consulting experience in the financial services industry. He holds a bachelor’s degree in Geology from the University of Benin.

FMAN is an independent, non-governmental, non-political, and non-profit making established in August 2009 to promote the operations of fund managers registered with the Securities and Exchange Commission in Nigeria (SEC), provide for self-regulation and supervision of SEC-registered fund managers, and ensure the observance of global best practices relating to the operations of such fund managers.

The Association aims to address all the issues affecting the industry’s development and represent its members at national and international levels in an ongoing discussion about the future regulatory framework for the industry. The association’s focus is on education, regulation, policy development, and international best practices for the benefit of its members, institutional investors, Policymakers, and other stakeholders.