Rand Merchant Bank Celebrates 10 Years of Offering Banking Service in Nigeria

Rand Merchant Bank Nigeria has celebrated its 10th anniversary of offering banking services in Nigeria.

To this end, a statement yesterday, revealed that the financial institution also used the ceremony to celebrate clients, stakeholders and partners.

It was also an opportunity to formally welcome the bank’s new Chief Executive Officers, Dalu Ajene, and bid a fond farewell to the immediate past CEO, Michael Larbie whose 10-year tenure as RMB Nigeria’s pioneer CEO came to an end on October 31, 2022.

Larbie spearheaded the establishment of RMB Nigeria and was pivotal to the business’s success and recognition as the market leading merchant bank in Nigeria.

“Michael Larbie will remain with RMB and has been appointed as the of Head of International and Broader Africa from 1 November 2022. In this exciting role, he will focus on assisting and catalysing growth for African businesses and governments in the context of a challenging economic and socio-political environment, while simultaneously increasing RMB’s efforts to facilitate investment flows into Africa,” the statement explained.

Ajene, previously Head of Coverage for RMB, would take up the mantel of RMB Nigeria CEO. He brings over 19 years of rich experience in financial services working for global and African investment banks and has executed $15 billion worth of advisory, capital markets and financing transactions in several continents including North America, Europe, Middle East and Africa. He shared his excitement of the legacy he picks up from Michael, the growth RMBN has experienced to date and the central role that clients play in RMB Nigeria’s successes:

“At RMB Nigeria we are passionate about asking the hard questions and proffering innovative solutions to our clients. We are proud of our 10 years milestone and honoured to have grown our client base, formed strong and resilient relationships with our clients, partners, and stakeholders’ overtime.

“We are delighted about the positive impact we have had on the Nigerian economy and the society at large. We have learnt a lot in the last 10 years of operating in Nigeria and have matured our understanding of the dynamic economic landscape. “This grounding informs our partnership approach with our clients where we look to together navigate the ups and downs that the economy throws at us. We will continue to be a positive force and an enabler of the Nigerian economy,” the new CEO said.

He concluded by sharing his positive outlook for the future, “I am excited by the opportunity to take up the CEO role at such a critical time for RMB Nigeria. We are positive about the outlook for our country Nigeria, and we want you our clients to be rest assured of our commitment to walk in step with you.”

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