Nova Merchant Bank Appoints Ude Acting MD/CEO

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Nova Merchant Bank yesterday announced the appointment of Mr. Nath Ude as its Acting Managing Director/Chief Executive Officer effective October 3, 2020, subject to approval by the Central Bank of Nigeria.

The bank disclosed this in a statement.

Nath is a seasoned banker whose experience cuts across three continents in world class financial institutions. He has held several senior banking positions internationally and in Nigeria including Executive Director First City Monument Bank (FCMB) and recently Executive Director, Union Bank, from where he joined Nova.

He started his banking career over 28 years ago with Citibank. Ude has a BSc in Finance, Masters in Business Administration, numerous professional qualifications and attended various leadership programs at globally renowned institutions.

In the same vein, the bank also announced the appointment of Mrs Funke Okoya as its Executive Director, Business Development, subject to approval by the CBN.

Before her appointment, she worked as the bank’s Head of Corporate Bank. Her banking career, which commenced over 22 years ago with Ecobank Nigeria, cuts across customer services, banking operations, liability management, commercial banking, corporate and investment banking. She has held senior positions in United Bank for Africa Plc, Access Bank, Coronation Merchant Bank and Emerging Africa Capital Group.

Commenting on the new appointments, the Chairman, Nova Merchant Bank, Mr. Phillips Oduoza, stated with the experience of the versatile bankers, the merchant bank remains well-positioned to fulfil its vision of being a major financial solutions provider as it enters the next stage of its growth phase.

“These key appointments represent NOVA’s commitment to optimise its management structure and align it to continually serve our clients and leverage on our business successes. It further demonstrates the inclusive nature of the Bank by placing women in key leadership roles,” Oduoza noted.

The Chairman further stated that the new appointments are crucial as the Bank grows capacity to drive its capital market subsidiaries.

These appointments followed the exit of Mr. Anya Duroha, the former Managing Director/Chief Executive Officer and retirement of Mr. Ayodeji Adigun the previous Executive Director/Chief Operating Officer upon the attainment of the mandatory retirement age of 60 years.

The bank expressed its gratitude to them for their service since its inception and wishes them all the best in their future endeavours.