Wema Bank Reshuffles Management Team, Assigns New CEO

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.