Access Bank is signalling the markets of its intent to become the world’s most respected African bank with the appointment of new executives to form the Executive Management team which will oversee the next phase of the bank’s growth and evolution.
“Specifically, these are signals that the bank continues with its culture of excellence, innovation and responsible business practice,” a source close to the bank told BusinessDay
“Similarly, these express a strong institutional commitment to sustainability, given that the team is built around people with strong knowledge of the bank’s culture and accomplishments in the industry,” our source added.
A statement by the bank released over the weekend to the Nigerian Stock Exchange disclosed that Obinna Nwosu has been appointed the Group Deputy Managing Director and Chief Operating Officer (COO).
“The announcement signals the successful completion of the leadership transition that began with the appointment of Herbert Wigwe in April 2013 as the Group Managing Director/CEO Designate, in preparation for the retirement of the Group Managing Direct/CEO, Aigboje Aig-Imoukhuede,” the statement said.
Nwosu assumes his new position with over two decades of banking experience garnered from Access Bank and Guaranty Trust Bank. He joined Access Bank in 2002 and was a General Manager and Head, Retail Banking Division, until December 2012 when he took a study leave for a Masters Degree in Public Policy at Columbia University, New York. His experience spans banking operations and relationship management.
The new appointees, it is said, will drive the bank’s growth vision in coming years.
BusinessDay gathered that Access Bank have new strategy positions every five years. The current phase started in 2013, with the last phase ending in 2002. This current phase which will end in 2017 is aimed at growing the bank to become top three in any market by every measurable index, we gathered.
Access Bank has also appointed Ojinika Olaghere as Executive Director, Operations and Information Technology, and Elias Igbinakenzua as Executive Director, Corporate and Investment Banking, with Roosevelt Ogbonna as Executive Director, Commercial Banking and Victor Etuokwu, who will continue to lead the bank’s retail business as Executive Director, Personal Banking.
BusinessDay investigations revealed that the appointments have been approved by the CBN.
Aigboje Aig-Imoukhuede who retires as CEO of Access Bank in December, said “Further to the appointment of a first class banker, Herbert Wigwe as my successor, the announcement of our reconstituted Executive Management Team effectively completes the succession process. Access Bank is now well positioned for even greater performance in the years ahead”.
Herbert Wigwe, the bank’s CEO Designate commented, “The Board of Directors and I have undergone a rigorous selection process to identify first class talents who possess the necessary attributes to drive the bank’s medium term strategy. The team is a blend of internal and external candidates, male and female banking professionals and possesses all the skills and competencies that will be needed.
“I am confident that together, we will build upon our achievements thus far and realise our objective of becoming the World’s Most Respected African Bank.”
Access Bank stock price closed trading at N10/share on Friday and has gained 24 percent in the past year, compared with a 51 percent gain in the NSE all share index.
