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APPOINTMENTS

Access Bank Plc appoints Hassan M.T Usman as director

Prior to his new appointment, Usman was the MD/Chief Executive Officer of Aso Savings and Loans Plc.

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Access Bank Plc has introduced the appointment of Mr Hassan M.T Usman, as an Independent Non-Executive Director of the bank, following the approval of the Central Bank of Nigeria.

Mr. Usman is the Founder/Chief Executive Officer of New Frontier Development Limited, an funding corporation centered on economic advisory, hospitality, actual property and proprietary investments in startups and challenged agencies withinside the SME space. He is likewise the Founder/Chairman of the Board of Trustees of the Al-Qalam (Pen) Foundation, a Non-for-Profit Organization that gives instructional possibilities to deprived children.

Prior to his new appointment, he become the Managing Director/Chief Executive Officer of Aso Savings and Loans Plc and an Executive Director at Abuja Investment and Property Development Company Limited. He become at diverse instances the Deputy Director and Head of Petrochemicals and Gas Unit, Transport Sector Reform Team in addition to the Deputy Director Telecoms Reform Lead and Head NITEL Privatization on the Bureau of Public Enterprises. He had additionally labored with the Central Bank of Nigeria, Arthur Andersen and CitiBank Nigeria.

Usman holds a Bachelor of Arts Degree in Economics from the University of Sussex and a Master of Philosophy in Development Economics from the University of Cambridge. He is a Fellow of the Institute of Chartered Accountants in England and Wales. He is likewise an Eisenhower Fellow and Archbishop Desmond Tutu Fellow of the African Leadership Institute.

Over the years, Usman served as a member of the Board of Directors of the Nigeria Sovereign Investment Authority, Nigeria Mortgage Refinance Company and Council of the Nigerian Stock Exchange.

While commenting on Usman’s appointment, the Chairman of Access Bank Plc, Ajoritsedere Awosika said, ‘’We are delighted to be joined by Mr Hassan M.T. Usman, a leader with a rich blend of academic, entrepreneurial and public sector experience which are all relevant to the needs of our Board.’’

‘’As we embark on the next phase of our enterprise transformation, we continue to strengthen the diversity of our board, we are strongly convinced that he will no doubt add significant value to our quest to become Africa’s Gateway to the World.’’

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APPOINTMENTS

Wema Bank announces the appointment of 2 new directors

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Wema Bank Plc has announced the appointment of Prince Olusegun Adesegun and Mr. Adeyemi Adefarakan as Non-Executive Directors, with effect from July 19, 2021.

This disclosure is contained in a notification which was sent by Wema Bank to the Nigerian Exchange Group Limited (NGX), esteemed shareholders and other stakeholders, signed by the Company Secretary, Johnson Lebile.

According to the notice, the appointments of Prince Olusegun Adesegun and Adeyemi Adefarakun have both been approved by the Central Bank of Nigeria (CBN).

 

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APPOINTMENTS

Greenwich Merchant Bank appoints Bayo Rotimi as MD/CEO

Bayo Rotimi has been appointed the new MD/CEO of Greenwich Merchant Bank.

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Greenwich Merchant Bank has announced the appointment of Mr Bayo Rotimi as its new Managing Director/ Chief Executive Officer.

This is according to a notification made available on the bank’s social media handle, seen by Themoneymetrics.

As part of his responsibilities, Mr Rotimi is expected to provide leadership and direction to the management team and take charge in optimizing the company’s overall strategic objectives and operational performance, in a bid to deliver optimal value for stakeholders, without compromising quality and standards.

About Bayo Rotimi

Mr Rotimi is an experienced investment banking professional with over 27 years’ experience. He worked for various financial institutions such as Lead Merchant Bank and FCMB Capital Markets, where he rose through the echelons to become the CEO of the latter in 2008. Prior to his recent appointment, he was the chairman of the investment committee of ARM’s Discovery, Aggressive, Growth, Ethical, Money Markets, Fixed income and Eurobond funds with over N110 billion under management.

What they are saying

Commenting on the recent development, Chairman of Greenwich Merchant Bank, Kayode Falowo said: “Bayo’s track record and pedigree speaks for itself and offers a reassuring nexus between the corporate ideals that Greenwich is reputed for and proactive dynamism required to stay on the cutting-edge of innovation, product development and stakeholder satisfaction.”

What you should know

  • Recall that Greenwich Trust Limited was officially renamed Greenwich Merchant Bank in September 2020, after obtaining regulatory approval from CBN to operate as a Merchant Bank.
  • Greenwich Merchant Bank Limited was incorporated on the 25th of February, 1992 and subsequently commenced operations in June 1994.
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APPOINTMENTS

Cornerstone Insurance Plc appoints Ogechi Adeola as Director

Dr Ogechi Adeola has been appointed as an Independent Non-Executive Director at Cornerstone Insurance Plc

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Cornerstone Insurance Plc has appointed Dr Ogechi Adeola as its new Independent Non-Executive Director, subject to ratification by members at general meeting.

This is according to a notification sent to the Nigerian Stock Exchange platform, dated 24th of February, 2021, as seen by Themoneymetrics.

Dr. Adeola’s profile

Dr. Adeola has over two decades of work and consulting experience in the Nigerian Financial services sectors. She is an Associate Professor of Marketing at the Lagos Business School and an alumna of the Manchester Business School, United Kingdom.

On the other hand, Cornerstone Insurance closed trading today (24th of February, 2021) at the floor of the Nigerian Stock Exchange with a share price of N0.59.

Results from the recently released FY 2020 financials posted by the firm showed that gross premium written increased from N13.06 billion in 2019 to N17.6 billion. However, profit for the period declined to N1.6 billion, from N4.11 billion recorded in 2019.

What you should know:

Cornerstone Insurance Company Plc is a Nigerian-based insurance company offering services in the life and non-life categories.

It was incorporated on the 26th of July, 2021, initially as a private limited liability and subsequently became a public limited liability after its listing on the Nigerian Stock Exchange in 1997.

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