Thursday, January
06, 2022 / 12:31 PM / by NGX / Header Image Credit: Ecographics
In accordance with the Nigerian Exchange Limited (NGX)
Rule Book, we hereby notify the NGX and the investing public of the appointment
of three (3) additional Executive Directors by the Board of Directors of our
flagship subsidiary, First Bank of Nigeria Limited (FirstBank):
These appointments are subject to the approval of the
Central Bank of Nigeria.
Profiles of the New Executive Directors
i.
Mr. Olusegun
Alebiosu
Prior
to this appointment, Segun was a Group Executive and the Chief Risk Officer of
the FirstBank Group, a role he had occupied since he joined the Bank in
September 2016. As CRO, he is the Executive accountable for enabling the
efficient and effective governance of significant risks, and related
opportunities in FirstBank and its subsidiaries. Under his leadership, there
has been a risk management transformation at the Bank, significant improvement
of our credit underwriting process with vintage NPL ratio less than 1%,
reduction of our NPL ratio to sub-7% levels, significant recoveries, exemplary
franchise protection and excellent stakeholder management. In addition to his
role as CRO, Segun is also the Executive Compliance Officer of the Bank with
the responsibility of ensuring the Bank complies with extant rules and
regulations. With a career that has spanned about 30 years, Segun is an
outstanding professional with a demonstrated commitment to the success of the
franchise.
Prior
to FirstBank, he was the Chief Credit Officer at the African Development Bank
Group (ADB) where he led Risk teams in various areas including financial
institutions, trade finance (to support African Banks), and critical
infrastructure projects across Africa. Prior to ADB, he worked at the United
Bank for Africa Plc in various risk capacities including credit policy, credit
risk management, agriculture, trade, retail and specialized lending. Segun also
worked at Omega Bank Plc, Peak Merchant Bank and Oceanic Bank Plc.
Segun
is a Fellow of the Institute of Chartered Accountants of Nigeria (FCA), an
Associate of the Nigerian Institute of Management, a Member of the Chartered
Institute of Bankers of Nigeria and a Member of the Nigerian Institute of
International Affairs. He has a BSc in Industrial Relations & Personnel
Management from the University of Lagos, a Master of International Law & Diplomacy also from the University
of Lagos, and a MSc in Development Studies from the London School of Economics
and Political Science. He has attended several courses and training programs on
leadership, enterprise risk management, compliance, assets and liability
management, trade, exports, sustainability banking, corporate, commercial and
retail banking, personal banking and personal effectiveness.
ii.
Mr. Oluwatosin
Adewuyi
Prior
to this appointment, Tosin was Group Executive, Corporate Banking where he was
responsible for the Bank's corporate banking business following the exit of the
previous Executive Director. He was until recently Executive Director of
FBNBank UK, a role he occupied when he joined the FirstBank family in 2017.
Under his leadership, the corporate banking franchise achieved significant
growth in assets and net revenue. He was also able to reposition the business
and portfolio of FBNBank UK in line with our revised strategy for the franchise
and pioneered collaborations between FirstBank, FBNBank UK and our African
subsidiaries via the Global Account Management program.
He is
an international banker with over 20 years' experience covering sub-Saharan
Africa. Tosin joined FirstBank from J.P. Morgan, where he was a Managing
Director and had been Head of its Nigeria Business for eight years. In his
role, he led the execution of J.P. Morgan's strategy for Nigeria and managed
key client relationships including the Central Bank of Nigeria, Ministry of
Finance, Debt Management Office, Nigerian Sovereign Investment Authority and
top-tier Nigerian Banks. In addition to his Nigerian role, he was also the Head
of Treasury Services (Cash Management and Trade) for SubSaharan Africa with
prior roles in trade finance, corporate banking, debt capital markets,
financial institutions and correspondent banking. Prior to J.P. Morgan, he
worked at Standard Bank, London for about five years and qualified as a
Certified Chartered Accountant during the four years he worked at KPMG.
Tosin
is a Fellow of the Association of Chartered Certified Accountants (FCCA) and he
holds a BA (Hons) in Economics and Accounting from the University of
Manchester. He is also an Honorary Member of the Chartered Institute of Bankers
and was on the 2012 Power List - Business, Finance and IT as one of the top 100
influential black people in the UK.
iii.
Mr. Ini Ebong
Ini was
the Group Executive in charge of the Treasury and International Banking at
FirstBank. In this role, he is responsible for the Bank's Treasury business,
its international banking franchise across sub-Saharan Africa covering six
countries (Democratic Republic of Congo, The Gambia, Ghana, Guinea Conakry,
Senegal and Sierra Leone), the Bank's Custody business, servicing local and
international clients, and the Bank's Financial Institutions business, which
covers its relationships with domestic and international correspondent banks,
multilateral agencies, development finance institutions and nonbank financial
institutions. Until recently, he was also responsible for the Structured Trade
and Commodity Finance business. Under Ini's leadership, the legacy treasury
service of the Bank has been transformed into a more nimble function and market-facing revenue-focused business consistent with that obtainable with regional
and international peers, thus improving its contribution to our PBT. His
efforts have also been critical to raising much-needed foreign exchange through
Eurobonds and structured financing and derivative products. Since 2019 when the
Sub-Saharan African (SSA) subsidiaries were brought under his purview, the
franchise has grown consistently with SSA subsidiaries now contributing more
than 20% of the FirstBank Group's revenues.
Prior
to joining FirstBank, Ini was the Head of African Fixed Income and Local
Markets Trading for Renaissance Capital. Prior to joining Renaissance Capital,
he had worked in Citigroup for 14 years, predominantly in a market-facing and
trading role where rose to the Head of Sales and Trading, and Country
Treasurer. Throughout his career in financial services spanning more than 25
years, Ini has had extensive experience in investment banking, financial
markets, equity and debt capital markets businesses, with work experience that
covers trading, treasury, balance sheet management and finance.
Ini is
a qualified architect with a BSc and MSc in Architecture from the University of
Ife. He has also attended numerous training courses during his career covering
leadership, executive management techniques, advanced credit risk management,
country risk assessment, crises management, treasury trading and balance sheet
management, and market risk assessment in various locations worldwide.
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