New Appointments at First Bank – New MD takes over January 2016.

There are new appointments and promotions in First Bank Plc. These involve top management staff and CEOs of some of the divisions within the Bank.

Announcing the appointments on Monday September 7 was the Global Head, Marketing & Corporate Communications, Folake Ani-Mumuney. According to her, Mr. Bello Maccido, pioneer Group CEO of FBN Holdings will become the Chairman of the newly-licenced FBN Merchant Bank Ltd.

Dr. Adesola Adeduntan, who has been the Chief Financial Officer of the bank will become the new Managing Director, succeeding Mr. Bisi Onasanya. Mr. Bisi Onasanya will be proceeding on retirement.

Mr. UK Eke (MFR), Executive Director, South, will become the Group Managing Director of FBN Holdings Plc

Chairman of the Bank, Prince Ajibola Afonja will retire from the Board and Mrs. Ibukun Awosika will replace him as the new Chairman of First Bank of Nigeria Ltd”

Mr. Gbenga Shobo, Executive Director, Lagos & West will become Deputy Managing Director of FBN

According to Folake Ani-Mumuney, the selection of the new helmsmen followed a rigorous process driven by the Board and supported by Heidrick & Struggle. The new appointments have been ratified by the Board awaiting regulatory approvals. They will take effect from January 1, 2016”.

Continuing the statement said “These appointments are a testament to the strength of our succession planning mechanisms and the caliber of candidates it produces. It also re-articulates our commitment to put our customers first with the confidence in the value that this new leadership team brings to bear on behalf of the Group, customers and employees, even as we strive to return greater value to shareholders,”