FSDH Merchant Bank Appoints Smith CEO, Ambah Retires

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By Obinna Chima

FSDH Merchant Bank Limited has appointed Mrs. Bukola Smith as its new Managing Director/Chief Executive Officer.

She is to take over from Mrs. Hamda Ambah who will retire from the bank with effect from April 27th, 2021.

According to a statement from the Lagos-based financial institution, Ambah will be retiring after 28 years of service to FSDH, including four years and three months as the Managing Director.

“She joined FSDH very early in its discount house days and is now retiring a little over eight years after the company became a merchant bank in 2013.

“Succeeding her is Mrs. Bukola Smith, whom the Board of Directors of FSDH Group has appointed as the incoming MD/CEO of FSDH Merchant Bank,” the statement added.

It revealed that the approval of the Central Bank of Nigeria on the appointment has been secured.

Smith holds an MBA from Alliance Manchester Business School, University of Manchester, UK, and a B.Sc. Economics from the University of Lagos.

She is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN), Honorary Member of the Chartered Institute of Bankers, and an Associate Member, Certified Institute of Pensions (Nigeria).

She brings 28 years of progressive experience in the industry with a track record of strategic execution and leadership.

She was appointed Executive Director, Business Development at First City Monument Bank (FCMB) in 2017 and held several other leadership positions since she joined FCMB in 2006.

In her most recent role, she was responsible for the bank’s 200 branches across the country, as well as the public sector, business banking, agriculture and transaction banking divisions. “Under her, the bank’s SME-focused team moved from fifth position in the industry to first position in 2019 (KPMG Customer Service Report 2020) within three years.

“In addition, she established the FCMB Women in Business Desk (branded SheVentures) which supports female entrepreneurs. She also set up FCMB Trustees and FCMB Custody, both of which broke even in the first year of operations and are building traction in the asset management field.

“The Board of FSDH Merchant Bank welcomes Mrs. Smith on board and is confident that she will take the bank to even greater heights,” the statement added.