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Wema Bank Reshuffles Management Team, Assigns New CEO

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wema bank - Investors King

Wema Bank Plc has announced a reshuffle of its management team and the retirement of its Managing Director/CEO, Ademola Adebise, who will go on terminal leave for the first quarter of the year.

Ademola Adebise who came into the bank as an Executive Director in 2009, rose through the cadre to become Managing Director/Chief Executive Officer of the bank in June 2018 after previously working as Deputy Managing Director for three years.

Adebise whose retirement will take full effect on March 31, 2023, expanded the bank’s outreach to all parts of the country and ensured the first dividend payment in 13 years including consistent paying of dividends in the last four years, Investors King research has shown.

Adebise saw the creation of the bank’s digital banking platform ALAT, Nigeria’s 1st digital bank and is currently ranked top in the KPMG Digital Scorecard for leading retail banks in Nigeria. A ranking based on in-depth insights into the state of user experience on retail banks’ digital channels.

Adebise will be succeeded by Moruf Oseni, the current Deputy Managing Director who joined the bank in June 2012 as an Executive Director. He has over 25 years of experience with more than 16 years at senior and executive management levels.

Oseni holds an MBA degree from the Institut European d’Administration des Affaires (INSEAD) in France, a Master’s in Finance (MiF) from the London Business School and a B.Sc. in Computer Engineering from the Obafemi Awolowo University (OAU). He is also an alumnus of both the Advanced Management Program (AMP) of the Harvard Business School and King’s College, Lagos.

Oseni will be joined on the management team by Wole Akinleye who is now the new Deputy Managing Director and Tunde Mabawonku appointed as the new Executive Director.

According to a statement by the bank, Wema Bank is the leading collection bank for state and government agencies owing to its efficient platform and the bank will be looking to retain that spot under its new leadership in 2023 as well as improve its total assets which has grown by 155 per cent, from N470 billion to over N1.2 trillion and ensure deposits grow from its current N1.1 trillion by the end of the year.

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Appointments

Cadbury Nigeria Appoints Abhiroop Chuckarbutty as Non-Executive Director

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Cadbury Nigeria

The Board of Directors of Cadbury Nigeria PLC has appointed Mr. Abhiroop Chuckarbutty as a Non-Executive Director with effect from Thursday 25th October 2024.

Mrs Afolasade Olowe, Company Secretary announced in a statement obtained by Investors King.

Mr. Abhiroop Chuckarbutty is Business Unit President for Sub Saharan Africa (SSA) and is a member of the Asia Pacific, Middle East and Africa (AMEA) Leadership Team.

In his role, Abhi is responsible for driving the operational strategy and long-term growth of the SSA markets.

He joins Mondelēz International from Lipton Teas & Infusions, where he was President of the Africa, Middle East & Turkey business unit, a business which he was responsible for setting up as a standalone entity from Unilever.

Prior to this role, Abhi had spent more than two decades in Unilever – having started his career at Hindustan Unilever Limited, the Indian arm of Unilever – with roles in sales, media and marketing.

His last role at Unilever was as VP Foods & Refreshments for North Africa Middle East.

With a diverse range of experience in CPG, Mr. Chuckarbutty has strong consumer, customer and execution capabilities in the region.

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Stanbic IBTC Appoints Dr. Kunle Adedeji as Acting CEO Ahead of Leadership Transition

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The Board of Stanbic IBTC has appointed Dr. Kunle Adedeji as the acting Chief Executive Officer of the financial institution ahead of the end of Dr. Demola Sogunle’s tenure on October 31, 2024.

Adedeji, who brings with him over 25 years in the banking sector, was confirmed on October 2, 2024, in a letter addressed to the Nigerian Exchange (NGX) and signed by the company secretary, Chidi Okezie.

Okezie revealed that Dr. Kunle Adedeji‘s appointment is set to take effect on November 1, 2024.

The statement detailed that Adedeji, who was in 2019 appointed as an Executive Director, is also the current Chief Finance and Value Management Officer of the Company.

Okezie noted that he will continue serving in the position while also serving as Acting Chief Executive of the Company.

The statement reads, “Adedeji, brings a wealth of experience and a strong track record of leadership within our organization.

Dr Adedeji, who was appointed as an Executive Director in 2019 is a seasoned financial expert with over 25 years in the banking sector.

“He holds an MBA in Finance from the University of Lagos and a DBA from the SBS Swiss Business School, Switzerland.

He is also the current Chief Finance and Value Management Officer of the Company and will continue in this capacity throughout the duration of his tenure as Acting Chief Executive of the Company.

The Board is confident that Mr. Adedeji’s leadership would be instrumental in driving the growth strategy of Stanbic IBTC Group.”

Investors King learned that Dr. Adedeji is set to succeed Dr. Demola Sogunle, whose tenure as the firm’s Chief Executive will come to an end on October 31, 2024.

Stanbic IBTC expressed gratitude to the outgoing CEO for his significant contributions during his 35 years of service.

“The Board of Directors expresses its heartfelt gratitude for his unwavering commitment, visionary leadership, and pivotal role in steering Stanbic IBTC through various challenges and milestones,” the statement added.

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David Isiavwe and Chinwe Iloghalu Emerge Executive Directors At NOVA Bank

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NOVA Bank has strengthened its leadership by appointing Mr. David Isiavwe and Mrs. Chinwe Iloghalu as Executive Director, Operations and Information Technology, and Executive Director, Institutional and Commercial Banking, respectively.

David Isiavwe and Chinwe Iloghalu are both experts in the banking sector, and with their wealth of experience, the bank is set to drive its innovation and growth, particularly after its recent transition to a national commercial bank.

Mr. Phillips Oduoza, the bank’s chairman, stated that the addition of Isiavwe and Iloghalu marks a critical point in the bank’s growth.

With these seasoned professionals on board, NOVA aims to become a key player in Nigeria’s banking sector.

Announcing the appointments, Phillips Oduoza noted, “The addition of Dr. Isiavwe and Mrs. Iloghalu marks a pivotal moment in constituting the management team that will lead NOVA into its next phase of growth.

“David’s expertise in technology will be key in enhancing our phygital model, while Chinwe’s strong business drive and relationship management, coupled with the retail and product engine of the bank, will be instrumental in driving the bank’s strategic intent to become a formidable player in the banking industry.”

He added, “Their deep understanding of digital and electronic banking will significantly contribute to our trademarked phygital experience, which seamlessly combines the best of in-person service and bespoke digital solutions to serve our customers.

Both leaders bring valuable experience that aligns perfectly with NOVA’s vision to be Africa’s preferred financial solutions provider.”

Mrs. Iloghalu brings nearly 30 years of experience across sectors like energy, corporate, and digital banking. She holds an MSc in Media and Communications, an MBA, and is a Fellow of the Institute of Credit Administration.

Meanwhile, Mr. Isiavwe, with over 30 years of experience in banking and a PhD in Accounting, will focus on driving NOVA’s digital transformation.

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