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APPOINTMENTS

Access Bank Plc appoints two new Directors

Access Bank Plc confirmed the appointment of an Executive Director and Non-Executive Director respectively.

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Following the approval of the Central Bank of Nigeria, Access Bank Plc has confirmed the appointment of Mr. Seyi Kumapayi and Mrs. Omosalewa Fajobi as Executive Director and Non-Executive Director respectively.

This is contained in a press release signed by the bank’s secretary, Sunday Ekwochi, as seen by Themoneymetrics.

What you should know

Mr. Seyi Kumapayi was appointed as Executive Director, African Subsidiaries. He has been the Group Chief Financial Officer of Access Bank Plc since 2008. He is an expert with over 20 years’ experience in banking cutting across strategy, treasury, finance and risk management.

He also worked with other financial institutions such as First City Monument Bank Limited and Guaranty Trust Bank.

Mr. Kumapayi is an alumnus of University of Lagos and University of Ibadan, where he obtained a Master’s degree and Bachelor’s degree in Mechanical Engineering and Agricultural Engineering respectively. He also attended the prestigious Harvard Business School and completed several Executive Management Development programmes in leading institutions including INSEAD, IMD and London Business School.

He is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN), and a member of the Global Association of Risk Professionals (GARP), the Chartered Institute of Taxation ofNigeria (CITN) and the Chartered Institution of Bankers of Nigeria (CIBN). He is a board member of the Ogun State Security Trust Fund.

On the other hand, Mrs. Omosalewa Fajobi has been appointed as a Non-Executive Director. She is an experienced legal luminary, and has worked in various sectors such as the financial, investment and legal services industry.

She is currently an Operating Director at Tengen Family Office Ltd. Her area of expertise includes: negotiation, business risk management and financial analysis.

Between May 2014 and June 2017, Mrs. Fajobi worked with International Finance Corporation as project lead (Nigeria) Africa Corporate Governance Programmes. She also worked as Legal Counsel at the defunct Oceanic Bank from 2006- 2010 andAccess Bank Plc from 2004-2006.

She is an alumna of the prestigious University of London and University of Lagos, where she obtained LLM Degree (Merit) with specialization in Corporate and Commercial Law and Bachelor’s degree in Law respectively. She is a member of the Nigerian Bar Association.

What they are saying

Commenting on these appointments, the bank’s Chairman, Dr. (Mrs.) Ajoritsedere Awosika, MFR said:

“We are very delighted to welcome the new appointees to the Board of Access Bank. These individuals have been chosen based on their exceptionally rich blend of professional, academic and corporate board experiences which are all relevant to the needs of our Board.

“We are strongly convinced that their skills will no doubt add significant value to our quest to become Africa’s Gateway to the World and the World’s Most Respected African Bank.”

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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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APPOINTMENTS

DEAP Capital Plc announces appointment of Interim Management Team

DEAPCAP has announced the interim appointment of three persons into its IMT.

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DEAP Capital Management and Trust Plc (DEAPCAP) have announced the appointment of Mrs. Anastasia Braimoh, and two (2) others into its Interim Management Team (IMT).

This is according to a notification signed by the firm’s secretary, Yetunde Hashesin-Souza and sent to the Nigerian Stock Exchange, as seen by Themoneymetrics.

The appointment is sequel to the resignation of the company’s Board of Directors on 31st of December, 2020. In lieu of this, the Securities and Exchange Commission (SEC) appointed an Interim Management Team on the 29th of January 2021, to oversee the affairs of DEAPCAP Plc.

The IMT comprises of the following persons;

• Mrs Anastasia Braimoh- Chairperson
• Mr Alhassan Sidi
• Mrs Gbemi Adekola

It is also pertinent to note that the newly inaugurated IMT would schedule an emergency general meeting, in a bid to constitute a new Board of Directors for Deap Capital Plc.

What you should know

  • DEAP Capital Management and Trust Plc is a financial services company established in 2002. It offers an array of services such as to its diversified clientele, such as; funds management, capital market operations, financial advisory services, portfolio management, etc.
  • The Erstwhile Board comprises of Murtala Aliyu who served as Chairman, Jacob Esan (Managing Director) and William Odudu (Director).
  • As at the time of reporting this, DEAPCAP currently trades at N0.20k at the floor of the Nigerian Stock Exchange. It has a market capitalization of N300 million.
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