Stanbic IBTC Announces Board Changes

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Obinna Chima

Stanbic IBTC Holdings Plc has announced changes on its Board as well as the Board of its banking subsidiary – Stanbic IBTC Bank Plc.

According to the financial institution, this followed the appointment of Mr. Yinka Sanni as Regional Chief Executive (West Africa) for Standard Bank Group.

In this role, Sanni would continue to have oversight responsibilities for Nigeria, Ghana and Cote d’Ivoire as Regional Chief Executive, as well as the delivery of Standard Bank Group’s strategy across the region.

The bank also announced the promotion of Dr. Demola Sogunle as Chief Executive, Stanbic IBTC Holdings Plc. Sogunle’s appointment is however subject to receipt of all required regulatory approvals.

Prior to the promotion, Sogunle was the Chief Executive of the Bank, and previously served as Deputy Chief Executive of the Bank.

Prior to his appointment as Deputy Chief Executive of the Bank, he was the Chief Executive of Stanbic IBTC Pension Managers, a position he held from August 2011 to December 2015.

“Demola will also continue to serve as a Non-Executive Director on the Board of the bank,” the statement added.

Furthermore, the bank also announced the promotion of Mr. Wole Adeniyi as Chief Executive, Stanbic IBTC Bank Plc.

Until his latest appointment, Adeniyi was the 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.

Mr. Remy Osuagwu was also promoted to the position of Executive Director, Personal and Business Banking Stanbic IBTC Bank.

“With the appointment of Mr. Wole Adeniyi as Chief Executive of the Bank, we are pleased to announce the promotion of Mr. Remy Osuagwu to Executive Director, Personal and Business Banking, subject to receipt of all required Regulatory Approvals. “He takes over from Mr. Adeniyi in the execution of the retail strategy of the Bank and in his new role he will oversee the growth of both the Personal and Business Banking segments of the Bank.

“Mr. Osuagwu previously served as Head, Business Banking. He 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,” the statement added.