Stanbic IBTC Bank PLC has announced the appointment of Mrs. Sola David-Borha (its joint Deputy Chief Executive) as its new Chief Executive Officer, with effect from May 1, 2011.
According to a statement yesterday, she succeeds Mr Chris Newson, who is taking up a new role as Standard Banks’Regional Managing Director for West Africa.
Mr Yinka Sanni recently appointed as joint Deputy Chief Executive will continue in his role as the substantive Deputy CEO. Newson, who was appointed Chief Executive Officer of Stanbic IBTC in 2007, said: "It has been a real privilege to have been part of the team tasked with building Stanbic IBTC into what it is today. I am particularly delighted to be handing over to someone as exceptional and well known in the Nigerian market as Sola.
‘’Equally, I look forward to continuing to be a part of the Nigerian and Stanbic IBTC stories via my new Regional Managing Director role. I wish to thank all our stakeholders for making me feel so welcome in this incredible country."
Newson emphasised that given Mrs. David-Borha’s extensive experience as an Executive Director of Investment Banking & Trust Company Plc (IBTC) from 1994-2005, Deputy Managing Director and Acting Managing Director, IBTC Chartered Bank PLC (from 2005 to 2007), as well as Executive Director for Corporate and Investment Banking and Deputy Managing Director, Stanbic IBTC since 2008, she has the requisite experience to steer the organisation to even greater heights.