Shogunle Now CEO Stanbic IBTC Holdings
OMOTAYO ARAOYE
Stanbic IBTC Holding Plc, a member of Standard Bank Group, Monday has announced the Promotion of Demola Sogunle as its new Chief Executive, Stanbic IBTC Holdings Plc, and will continue to serve as a Non-Executive Director on the board of the bank.
The Holding company has also promoted Wole Adeniyi as the new Chief Executive, Stanbic IBTC Bank PLC, replacing Sogunle as well as the promotion of Remy Osuagwu as the new Executive Director, Personal and Business Banking of the bank.
The Company Secretary, Chidi Okezie in a statement said these promotions are subject to receipt of all required regulatory approvals and also In line with the Group’s seamless succession strategy.
The bank explained that the executive promotions follow the appointment of Yinka Sanni as Regional Chief Executive (West Africa) for Standard Bank Group, as he would continue to have oversight responsibilities for Nigeria, Ghana and Cote d’Ivoire as RCE, as well as the delivery of Standard Bank Group’s strategy across the region.
Demola who was the Chief Executive of the Bank, and previously served as Deputy Chief Executive of the Bank, also was the Chief Executive of Stanbic IBTC Pension Managers, a position he held from August 2011 to December 2015. He also served as the Bank’s Head of Risk Management, Chief Compliance Officer, as well as Head of Treasury and Financial Services.
He holds a First-Class Honours degree in Agricultural Science and a Ph.D. in Land Resource Evaluation and Management, both from the University of Ibadan, Nigeria.
He obtained an MBA in Banking and Finance from ESUT Business School, Nigeria, and has completed the Advanced Management Program (AMP) of the Harvard Business School, Boston, USA. Demola also holds a Treasury Dealership Certificate from the Chartered Institute of Bankers of Nigeria (CIBN) and he is a member of the Global Association of Risk Professionals.
However, Mr. Wole Adeniyi who is now the Chief Executive, Stanbic IBTC Bank PLC (“the Bank”) was the former Deputy Chief Executive of the Bank and served previously as Executive Director, Personal and Business Banking.
Adeniyi is a First-Class graduate of Business Administration from the University of Benin, Nigeria. He has an MBA from the Manchester Business School of The University of Manchester, UK. He is also a Fellow of the Institute of Chartered Accountants of Nigeria (FCA), and a Certified Information Systems Auditor (CISA).
Mr. Remy Osuagwu, the new Executive Director, Personal and Business Banking, previously served as Head, Business Banking has been mandated to oversee the growth of both the Personal and Business Banking segments of the Bank.
Osuagwu holds a bachelor’s degree in Banking & Finance, as well as an MBA. He has had extensive experience in banking and financial services, spanning a period of over 20 years.
The Boards of Directors of Stanbic IBTC Holdings PLC and Stanbic IBTC Bank PLC, have expressed their immense thanks and appreciation to Yinka for his exemplary leadership and wish him success as he continues with his Regional Role. They have also extended their warm congratulations to Demola, Wole and Remy on their new appointments.
Stanbic IBTC Holdings PLC is a full-service financial services group with a clear focus on three main business pillars – Corporate and Investment Banking, Personal and Business Banking, and Wealth Management.
The group’s largest shareholder is the Industrial and Commercial Bank of China (ICBC), the world’s largest bank, with a 20.1% shareholding. In addition, Standard Bank Group and ICBC share a strategic partnership that facilitates trade deals between Africa, China and select emerging markets.
Standard Bank Group is the largest African financial institution by assets. It is rooted in Africa with strategic representation in 21 countries on the African continent.
Standard Bank has been in operation for over 157 years and is focused on building first-class, on-the-ground financial services institutions in chosen countries in Africa; and connecting selected emerging markets to Africa by applying sector expertise, particularly in natural resources, power, and infrastructure.
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