Peterside: I'm Leaving Stanbic IBTC in Capable Hands

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The outgoing Chairman of Stanbic IBTC Holdings Plc, Atedo Peterside, has expressed confidence in the ability of the board, management and staff to maintain the organisation on a steady path of growth as he takes a final bow from the institution that has become synonymous with his name.

According to a statement, Peterside stated this at a send-off dinner in his honour in Lagos recently. The event was attended by the Minister of Industry, Trade and Investment, Dr. Okechukwu Enelamah; Emir of Kano, Alhaji Muhammadu Sanusi II; President, Dangote Group, Aliko Dangote; Chief Executive, Standard Bank Group, Sim Tshabalala; Deputy Chairman, Standard Bank Group, Jacko Maree; and Chief Executive, Africa Regions, Standard Bank Group, Sola David-Borha, with the Chief Executive of Stanbic IBTC Holdings Plc, Yinka Sanni, playing host.

Peterside stated: “I am resigning from the Board of Stanbic IBTC Holdings to focus on my role as member of the board of the parent group. I am very confident that those behind are more than capable to steer the ship in the right direction. I am comfortable in the part that I have played and I believe that the organisation will continue to make progress.”

In a letter to the Board of Directors announcing his resignation effective March 31, 2017, Peterside had noted that the organisation had put in place a succession plan,which ensures that the business is well-placed to continue the pursuit of its goals and growth strategies without hitches.

“We have a strong tradition of careful succession planning at both Stanbic IBTC and the Standard Bank Group,” he stated, adding, “Yinka Sanni, who has been the Chief Executive of Stanbic IBTC Bank, recently took over as Chief Executive of Stanbic IBTC holdings as a good show of our succession planning.”

Peterside was eulogised for his integrity, professionalism and strong leadership skills that helped in transforming Stanbic IBTC from just an investment bank to a leading end-to-end financial solutions company with tentacles in stockbroking, pension and asset management, trusteeship, and insurance, among others.

On his part, Dangote said: “I think that Atedo has done well for himself. I have served on many committees with him and have known him to be fearless, especially when he is convinced that he is standing by the truth. He is a man of integrity. I am sure that his successor on the board will do well because of the solid foundations that he has laid”.

The Emir of Kano traced his relationship with Petersideback to their studentship at Kings College, a shared experience that groomed them for leadership.