January 31, 2012
FBN CAPITAL, the Investment Banking and Asset Management business of the First Bank Group, has appointed Patrick Mgbenwelu as director and head of its project and structured finance business.
Mgbenwelu joins the firm with over 20 years banking experience in the areas of financial advisory, debt arranging and closing of PPP and project Finance transactions in the UK, Portugal, the GCC countries, and Nigeria. Until his appointment, Mgbenwelu served in a similar capacity with Stanbic IBTC Bank Plc which is a member of the Standard Bank Group, and has worked on project financings in excess of US$72 billion over the past 17 years; including US$28 billion NNPC Greenfield Refineries, US$250 million AccuGas/Seven Energy International Gas Pipeline Expansion, US$1.6 billion Lagos State Blue Line Project, and the Lekki – Epe International Airport project.
Commenting on the appointment, the MD/CEO of the Investment Banking and Asset Management group, Mr. Osaze Osifo, said: “We are extremely pleased to welcome Patrick on board. Our goal is to build a world-class institution that truly offers innovative solutions and unmatched expertise to serve our diverse and growing client base. Patrick certainly brings that strong capability to the team.”
An Associate of the Chartered Institute of Bankers (‘ACIB’) London, Mgbenwelu’s holds an M.Sc. Finance & Investment (London), and an MBA (London). Following the successful integration of four subsidiaries that make up the Investment Banking and Asset Management group, his appointment further enhances FBN Capital’s competitive edge in providing best-in-class investment banking services to its clients.
FBN Capital is a leading player in deal origination, structuring, execution and distribution.
A market leader in debt structuring, arranging and syndication, the firm has won several awards including the 2011 EMEAFinance Africa Banking Award for the Best Debt house in Nigeria for the second consecutive year; and the 2011 EMEAFinance awards for Best Bond and Best Syndicated Loan in Africa. FBN Capital offers services in Investment Banking, Asset Management, Markets, and Principal Investing/Private Equity, and has advised on landmark transactions across several sectors of the economy.